NetApp, Inc. $NTAP Shares Sold by Fieldview Capital Management LLC

Fieldview Capital Management LLC lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 60.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,578 shares of the data storage provider’s stock after selling 7,118 shares during the quarter. Fieldview Capital Management LLC’s holdings in NetApp were worth $490,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Norges Bank acquired a new stake in NetApp during the 4th quarter worth approximately $458,060,000. Arrowstreet Capital Limited Partnership increased its position in NetApp by 94.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after purchasing an additional 886,485 shares in the last quarter. AQR Capital Management LLC increased its position in NetApp by 71.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares in the last quarter. Wellington Management Group LLP increased its position in 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. Finally, Bank of America Corp DE increased its position in NetApp by 83.0% during the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after purchasing an additional 700,467 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of research analyst reports. Barclays increased their target price on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Morgan Stanley increased their target price on shares of NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. UBS Group reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Citigroup increased their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Up 0.1%

Shares of NASDAQ:NTAP opened at $161.82 on Tuesday. 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 52-week low of $93.69 and a 52-week high of $192.83. The company has a 50 day moving average of $127.09 and a two-hundred day moving average of $112.64. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.95 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data 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). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business earned $1.93 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. 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, analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the 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 directly owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 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. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,500 shares of company stock valued at $448,955. 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.