Prudential PLC Has $10.33 Million Stock Holdings in NetApp, Inc. $NTAP

Prudential PLC decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,471 shares of the data storage provider’s stock after selling 2,998 shares during the period. Prudential PLC’s holdings in NetApp were worth $10,331,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the third quarter worth approximately $27,000. Rossby Financial LCC grew its stake in NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the period. Park Square Financial Group LLC grew its stake in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the period. JFS Wealth Advisors LLC grew its stake in NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares during the period. Finally, Torren Management LLC acquired a new stake in NetApp during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Bank of America raised their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Argus raised their target price on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 target price on shares of NetApp in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus target price of $169.33.

NetApp Trading Down 6.6%

Shares of NetApp stock opened at $167.04 on Friday. 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 52 week low of $93.69 and a 52 week high of $192.83. The stock has a 50 day moving average price of $119.80 and a two-hundred day moving average price of $110.25. The stock has a market capitalization of $32.96 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data 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). 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 posted $1.93 EPS. The company’s revenue was up 12.5% on a year-over-year basis. 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, equities analysts anticipate that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is 32.70%.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction 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 completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,500 shares of company stock valued at $386,145 in the last three months. 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.