Savant Capital LLC Sells 10,140 Shares of NetApp, Inc. $NTAP

Savant Capital LLC trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 72.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,794 shares of the data storage provider’s stock after selling 10,140 shares during the period. Savant Capital LLC’s holdings in NetApp were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC lifted its stake in shares of NetApp by 16.6% in the 4th quarter. Intech Investment Management LLC now owns 70,621 shares of the data storage provider’s stock valued at $7,563,000 after purchasing an additional 10,035 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of NetApp by 14.2% in the 4th quarter. Baker Avenue Asset Management LP now owns 2,409 shares of the data storage provider’s stock valued at $258,000 after purchasing an additional 300 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of NetApp by 727.3% in the 4th quarter. AlphaQuest LLC now owns 28,113 shares of the data storage provider’s stock valued at $3,011,000 after purchasing an additional 24,715 shares during the last quarter. Allstate Corp lifted its stake in shares of NetApp by 98.5% in the 4th quarter. Allstate Corp now owns 15,456 shares of the data storage provider’s stock valued at $1,655,000 after purchasing an additional 7,668 shares during the last quarter. Finally, Fisher Asset Management LLC bought a new stake in shares of NetApp in the 4th quarter valued at approximately $405,000. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NTAP. UBS Group reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research note on Friday, May 29th. Argus raised their price objective on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Morgan Stanley raised their price objective on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Citigroup raised their price objective on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Bank of America raised their price target on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $169.33.

Insider Buying and Selling

In related 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 transaction 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 approximately $186,488.10. This trade represents a 17.11% decrease in their position. The sale was disclosed in a legal 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 firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,500 shares of company stock valued at $386,145 over the last three months. 0.28% of the stock is owned by corporate insiders.

NetApp Price Performance

Shares of NTAP stock opened at $167.04 on Friday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The firm has a market capitalization of $32.96 billion, a P/E ratio of 26.26, a P/E/G ratio of 3.28 and a beta of 1.45. The stock has a 50 day moving average price of $119.80 and a 200 day moving average price of $110.25.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) 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 the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $1.93 earnings per share. NetApp’s revenue 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. As a group, sell-side analysts predict that NetApp, Inc. will post 7.14 earnings per share for the current year.

NetApp Announces Dividend

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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is currently 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.