Quantinno Capital Management LP Has $21.24 Million Stock Position in NetApp, Inc. $NTAP

Quantinno Capital Management LP trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 207,470 shares of the data storage provider’s stock after selling 52,995 shares during the period. Quantinno Capital Management LP’s holdings in NetApp were worth $21,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Parallel Advisors LLC grew its position in NetApp by 2.1% in the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after acquiring an additional 101 shares during the last quarter. Park Square Financial Group LLC grew its stake in shares of 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 purchasing an additional 103 shares during the last quarter. Assetmark Inc. increased its stake in shares of NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after buying an additional 104 shares during the period. Transcend Capital Advisors LLC increased its position in NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after purchasing an additional 107 shares during the period. Finally, Fifth Third Bancorp raised its stake in NetApp by 0.9% during the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after buying an additional 108 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $178.50 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. The stock has a market cap of $35.03 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 3.26 and a beta of 1.46. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The stock has a fifty day moving average of $162.88 and a 200-day moving average of $124.94.

NetApp (NASDAQ:NTAP) last announced 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 firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company 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 research analysts anticipate that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were 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 was Friday, July 10th. NetApp’s dividend payout ratio is currently 32.70%.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction that occurred on Monday, June 1st. The shares were 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 directly owned 1,090 shares in the company, valued at $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the sale, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,964 shares of company stock valued at $8,181,642 over the last three months. 0.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NTAP has been the subject of a number of research analyst reports. Citigroup lifted their target price on NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Susquehanna raised 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. Argus lifted their price objective on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Bank of America boosted 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. Finally, Northland Securities increased their price target on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average 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.