Rockefeller Capital Management L.P. Has $4.39 Million Stake in NetApp, Inc. $NTAP

Rockefeller Capital Management L.P. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 87.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,967 shares of the data storage provider’s stock after purchasing an additional 19,113 shares during the period. Rockefeller Capital Management L.P.’s holdings in NetApp were worth $4,387,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares during the period. Sivia Capital Partners LLC purchased a new stake in NetApp in the 2nd quarter worth about $315,000. Cerity Partners LLC boosted its position in NetApp by 9.9% during the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia boosted its position in NetApp by 7.3% during the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after acquiring an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC grew its stake in NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after acquiring an additional 2,277 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

Shares of NTAP opened at $152.45 on Friday. The firm has a market cap of $29.87 billion, a PE ratio of 23.97, a PEG ratio of 2.79 and a beta of 1.45. The firm’s 50 day moving average price is $137.56 and its 200 day moving average price is $115.41. 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 twelve month low of $93.69 and a twelve month high of $192.83.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm 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. As a group, research analysts expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors 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 dividend on an annualized basis and a yield of 1.4%. NetApp’s dividend payout ratio is currently 32.70%.

Insider Buying and Selling

In other NetApp news, 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 transaction of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 52,964 shares of company stock worth $8,106,972. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Morgan Stanley raised their price target on shares of NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price objective on shares of NetApp in a research note on Tuesday, June 2nd. Argus increased their target price on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Citigroup lifted their target price on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $169.33.

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.