NetApp, Inc. $NTAP Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 13.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,017 shares of the data storage provider’s stock after selling 39,528 shares during the quarter. Eurizon Capital SGR S.p.A. owned 0.13% of NetApp worth $53,148,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NTAP. BlackRock Inc. purchased a new position in NetApp in the 2nd quarter valued at about $2,925,168,000. Primecap Management Co. CA acquired a new position in NetApp in the second quarter valued at approximately $1,395,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NetApp by 9.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider’s stock valued at $687,762,000 after purchasing an additional 383,701 shares during the last quarter. First Trust Advisors LP raised its holdings in NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after buying an additional 2,046,912 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in NetApp by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,129,773 shares of the data storage provider’s stock valued at $218,065,000 after buying an additional 30,559 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth O’Callahan sold 1,000 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $175.95, for a total transaction of $175,950.00. Following the completion of the transaction, the executive vice president directly owned 29,423 shares of the company’s stock, valued at approximately $5,176,976.85. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deepak Ahuja sold 3,450 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $200.00, for a total value of $690,000.00. Following the completion of the transaction, the director directly owned 12,814 shares in the company, valued at $2,562,800. This represents a 21.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,524 shares of company stock valued at $35,000,256 over the last quarter. Corporate insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NTAP. Barclays lowered shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 target price for the company. in a research note on Wednesday, October 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $240.00 price objective (up from $210.00) on shares of NetApp in a research note on Tuesday, October 6th. Citigroup dropped their target price on NetApp from $209.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Bank of America raised their price objective on shares of NetApp from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Finally, Wall Street Zen downgraded NetApp from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, NetApp has an average rating of “Moderate Buy” and a consensus price target of $205.24.

NetApp Stock Down 2.5%

Shares of NASDAQ NTAP opened at $181.37 on Friday. The stock has a fifty day moving average price of $203.82 and a 200 day moving average price of $153.98. The company has a market cap of $35.62 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.00 and a beta of 1.52. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.12 by $0.46. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Research analysts anticipate that NetApp, Inc. will post 8.32 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, October 9th. NetApp’s payout ratio is 29.34%.

About NetApp

NetApp, Inc. develops data storage and data management technologies for businesses and other organizations. Its offerings support workloads across on-premises infrastructure, public cloud environments and hybrid settings, with services for storing, managing, protecting and moving data. The company’s portfolio includes its ONTAP data management software, all-flash and hybrid-flash storage systems, object storage, and cloud storage and data services. NetApp also provides tools to help customers manage data across different environments and offers infrastructure through its Keystone storage-as-a-service model.