NetApp, Inc. $NTAP Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 26.6% during the fourth quarter, HoldingsChannel reports. The firm owned 62,359 shares of the data storage provider’s stock after selling 22,554 shares during the quarter. Erste Asset Management GmbH’s holdings in NetApp were worth $6,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NTAP. Abich Financial Wealth Management LLC acquired a new position in NetApp during the 3rd quarter valued at approximately $27,000. Rossby Financial LCC increased its stake in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares in the last quarter. Park Square Financial Group LLC increased its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares in the last quarter. Finally, Torren Management LLC acquired a new position in NetApp during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,500 shares of company stock worth $285,475 over the last three months. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush upped their price target on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Bank of America increased their price objective on shares of NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Northland Securities increased their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Barclays increased their price objective on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Up 2.0%

NASDAQ:NTAP opened at $170.31 on Tuesday. The firm has a market capitalization of $33.61 billion, a P/E ratio of 26.78, a PEG ratio of 3.06 and a beta of 1.44. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company’s fifty day moving average price is $121.12 and its 200-day moving average price is $110.73. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, equities research analysts anticipate that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. NetApp’s dividend payout ratio is 32.70%.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.