NetApp, Inc. $NTAP Stake Boosted by Raiffeisen Bank International AG

Raiffeisen Bank International AG increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,676 shares of the data storage provider’s stock after purchasing an additional 4,845 shares during the quarter. Raiffeisen Bank International AG’s holdings in NetApp were worth $6,904,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC acquired a new stake in NetApp in the third quarter worth $27,000. Rossby Financial LCC increased its position in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the period. Park Square Financial Group LLC increased its position in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares during the period. JFS Wealth Advisors LLC increased its position in NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after buying an additional 201 shares during the period. Finally, Torren Management LLC acquired a new stake in NetApp in the fourth quarter worth $34,000. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America increased their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Barclays increased their target price on NetApp from $120.00 to $199.00 and gave the stock an “overweight” 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 research report on Monday. Finally, JPMorgan Chase & Co. increased their target price on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $169.33.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, 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 worth $285,475 over the last three months. Corporate insiders own 0.28% of the company’s stock.

NetApp Price Performance

Shares of NTAP opened at $160.47 on Friday. The firm has a market capitalization of $31.44 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.94 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 one year low of $93.69 and a one year high of $192.83. The stock’s fifty day moving average is $124.72 and its 200-day moving average is $111.92.

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

NetApp Dividend Announcement

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

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.