NetApp, Inc. $NTAP Position Lessened by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.5% during the third quarter, Holdings Channel reports. The institutional investor 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.’s holdings in NetApp were worth $53,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Werba Rubin Papier Wealth Management bought a new position in NetApp in the 3rd quarter worth approximately $235,000. Maryland State Retirement & Pension System raised its position in shares of NetApp by 11.4% during the third quarter. Maryland State Retirement & Pension System now owns 11,977 shares of the data storage provider’s stock worth $2,516,000 after purchasing an additional 1,222 shares during the period. Advisor Resource Council acquired a new position in NetApp in the 3rd quarter worth $308,000. Ritholtz Wealth Management boosted its position in NetApp by 12.1% during the 3rd quarter. Ritholtz Wealth Management now owns 3,080 shares of the data storage provider’s stock worth $647,000 after acquiring an additional 332 shares during the last quarter. Finally, Jacobi Capital Management LLC acquired a new position in NetApp during the third quarter worth $56,000. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $181.37 on Friday. The firm’s fifty day moving average is $203.82 and its 200-day moving average is $153.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $240.87. The firm has a market cap of $35.62 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.00 and a beta of 1.52.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Sell-side analysts predict that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on NTAP shares. Morgan Stanley boosted their target price on NetApp from $173.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. Weiss Ratings lowered shares of NetApp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Citigroup lowered their price objective on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, September 3rd. Bank of America lifted their price target on NetApp from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. Finally, Daiwa Securities Group boosted their price target on NetApp from $180.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, NetApp has a consensus rating of “Moderate Buy” and an average price target of $205.24.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $210.04, for a total value of $2,100,400.00. Following the completion of the sale, the chief executive officer owned 208,537 shares in the company, valued at approximately $43,801,111.48. The trade was a 4.58% decrease in their ownership of the stock. 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 stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $200.00, for a total transaction of $690,000.00. Following the completion of the transaction, the director directly owned 12,814 shares of the company’s stock, valued at approximately $2,562,800. The trade was a 21.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 173,524 shares of company stock valued at $35,000,256. Corporate insiders own 0.36% of the company’s stock.

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.