Assenagon Asset Management S.A. Has $5.07 Million Position in NetApp, Inc. $NTAP

Assenagon Asset Management S.A. increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,528 shares of the data storage provider’s stock after purchasing an additional 9,657 shares during the period. Assenagon Asset Management S.A.’s holdings in NetApp were worth $5,071,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after purchasing an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of NetApp in the 2nd quarter valued at about $315,000. Cerity Partners LLC raised its stake in shares of NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after purchasing an additional 4,232 shares during the period. Bank of Nova Scotia lifted its holdings in shares of NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after purchasing an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after purchasing an additional 2,277 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Trading Up 1.7%

Shares of NetApp stock opened at $155.06 on Tuesday. The stock has a market cap of $30.38 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.79 and a beta of 1.44. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $192.83. The business’s 50 day moving average is $138.59 and its 200-day moving average is $115.66.

NetApp (NASDAQ:NTAP) last released its 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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 earnings per share. 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 predict that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup lifted their target price on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Bank of America upped their price target on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Northland Securities raised their price target 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. Wedbush lifted their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Susquehanna increased their target price on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $169.33.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on 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 completion of the sale, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 52,964 shares of company stock worth $8,106,972. Insiders own 0.28% of the company’s stock.

NetApp Company 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.