Fisher Asset Management LLC Takes Position in NetApp, Inc. $NTAP

Fisher Asset Management LLC acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,779 shares of the data storage provider’s stock, valued at approximately $405,000.

Other institutional investors also recently made changes to their positions in the company. Rossby Financial LCC grew its stake in shares of 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 buying an additional 115 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of NetApp during the 3rd quarter valued at $27,000. Park Square Financial Group LLC grew its stake in shares of 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 buying an additional 103 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of NetApp during the 3rd quarter valued at $35,000. Finally, JFS Wealth Advisors LLC grew its stake in shares of 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 buying an additional 201 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $130,800. This represents a 20.15% decrease in their position. The sale was disclosed in a document filed 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 on Monday, May 11th. The stock was 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 trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,275 shares of company stock valued at $347,650. 0.28% of the stock is owned by corporate insiders.

NetApp Price Performance

Shares of NetApp stock opened at $174.29 on Monday. The company has a fifty day moving average price of $112.46 and a 200 day moving average price of $107.92. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The stock has a market cap of $34.39 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 3.18 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results 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). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities research analysts forecast that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday. Bank of America boosted their price objective on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday. Susquehanna boosted their price objective on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, UBS Group reissued a “neutral” rating and set a $160.00 price objective on shares of NetApp in a research note on Friday. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $157.50.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, topping estimates and rising 12.5% year over year, while non-GAAP EPS came in at $2.43, also above expectations. NetApp Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued FY2027 guidance above Wall Street estimates, pointing to revenue of about $7.3 billion-$7.6 billion and EPS of $8.70-$9.00, which supports optimism for continued growth and margin expansion. Why NetApp Stock Soared 35% Friday Morning
• Positive Sentiment: Analysts sharply lifted price targets after the report, including JPMorgan, Bank of America, Citigroup, Wedbush, Susquehanna, Northland, and Wells Fargo, signaling that the earnings beat may lead to higher estimates even if several firms kept neutral or hold-type ratings. Analyst price target updates
• Positive Sentiment: NetApp also announced a quarterly dividend and a new $1 billion share repurchase program, adding to shareholder returns and potentially supporting the stock. NetApp Announces New $1 Billion Share Repurchase Program

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.