MASTERINVEST Kapitalanlage GmbH Cuts Holdings in NetApp, Inc. $NTAP

MASTERINVEST Kapitalanlage GmbH decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 37.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,384 shares of the data storage provider’s stock after selling 4,973 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in NetApp were worth $858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NTAP. Norges Bank bought a new position in shares of NetApp in the 4th quarter worth $458,060,000. SG Americas Securities LLC boosted its position in NetApp by 378.9% during the first quarter. SG Americas Securities LLC now owns 1,329,475 shares of the data storage provider’s stock valued at $136,125,000 after purchasing an additional 1,051,863 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in NetApp by 94.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after purchasing an additional 886,485 shares in the last quarter. AQR Capital Management LLC grew its stake in NetApp by 71.6% in the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock valued at $219,058,000 after purchasing an additional 771,835 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in NetApp by 17.1% in the third 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. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 275 shares of the 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 of the company’s stock, valued at approximately $130,800. This represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the completion of the transaction, the executive vice president owned 31,297 shares of the company’s stock, valued at approximately $5,349,283.24. The trade was a 3.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 52,964 shares of company stock worth $8,181,642 in the last 90 days. Insiders own 0.28% of the company’s stock.

NetApp Stock Down 7.1%

NTAP stock opened at $162.10 on Thursday. The stock has a market capitalization of $31.76 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.19 and a beta of 1.46. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $192.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The firm has a 50 day moving average of $151.43 and a 200 day moving average of $119.88.

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). The company 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%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on NTAP. Susquehanna increased their price target on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $200.00 price objective on shares of NetApp in a research note on Tuesday, June 2nd. UBS Group reissued a “neutral” rating and set a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. Citigroup raised their target price on shares of 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 increased their price objective on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a 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 given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $169.33.

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.