NetApp, Inc. $NTAP Holdings Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 15.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,128,828 shares of the data storage provider’s stock after purchasing an additional 148,950 shares during the quarter. Allianz Asset Management GmbH’s holdings in NetApp were worth $120,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares in the last quarter. Norges Bank acquired a new stake in NetApp in the 4th quarter valued at $458,060,000. Boston Partners raised its position in NetApp by 12.6% in the 3rd quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after purchasing an additional 370,405 shares during the last quarter. Northern Trust Corp raised its position in NetApp by 1.0% in the 3rd quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock valued at $343,899,000 after purchasing an additional 29,871 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of NetApp by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,091,817 shares of the data storage provider’s stock worth $247,795,000 after acquiring an additional 13,195 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on NTAP shares. Wells Fargo & Company boosted their target price on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Bank of America increased 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. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. UBS Group reissued a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price objective on shares of NetApp in a report on Tuesday, June 2nd. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $169.33.

NetApp Trading Down 2.6%

NetApp stock opened at $160.66 on Thursday. The stock has a market cap of $31.48 billion, a P/E ratio of 25.26, a PEG ratio of 3.10 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The firm’s fifty day moving average price is $123.56 and its 200-day moving average price is $111.54.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $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 forecast that NetApp, Inc. will post 6.96 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s dividend payout ratio (DPR) is 32.70%.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,500 shares of company stock valued at $285,475 over the last quarter. Company insiders own 0.28% of the company’s stock.

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.