Quantinno Capital Management LP Sells 52,995 Shares of NetApp, Inc. $NTAP

Quantinno Capital Management LP trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,470 shares of the data storage provider’s stock after selling 52,995 shares during the period. Quantinno Capital Management LP owned approximately 0.11% of NetApp worth $21,243,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NTAP. OMERS ADMINISTRATION Corp boosted its holdings in NetApp by 25.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 32,197 shares of the data storage provider’s stock valued at $3,297,000 after purchasing an additional 6,554 shares during the period. Lombard Odier Asset Management Switzerland SA acquired a new stake in NetApp during the first quarter valued at approximately $1,107,000. Lombard Odier Asset Management USA Corp acquired a new stake in NetApp in the 1st quarter valued at $280,000. Epoch Investment Partners Inc. boosted its stake in shares of NetApp by 6.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,743,918 shares of the data storage provider’s stock valued at $178,560,000 after purchasing an additional 106,589 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in NetApp by 138.1% in the first quarter. Entropy Technologies LP now owns 36,883 shares of the data storage provider’s stock valued at $3,776,000 after buying an additional 21,392 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $170.92, for a total value of $170,920.00. Following the completion of the transaction, the executive vice president directly owned 31,297 shares in the company, valued at $5,349,283.24. The trade was a 3.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 52,964 shares of company stock worth $8,181,642. 0.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NTAP shares. Wells Fargo & Company boosted their price objective on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Northland Securities raised their target price on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Barclays boosted their price target on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Wall Street Zen lowered NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Trading Up 2.6%

NetApp stock opened at $178.50 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The firm has a 50-day moving average of $162.88 and a 200-day moving average of $124.94. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 3.26 and a beta of 1.46. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion for 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 for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm 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. On average, equities analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

NetApp Profile

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.