Boston Trust Walden Corp Acquires 142,073 Shares of NetApp, Inc. $NTAP

Boston Trust Walden Corp boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 29.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 631,452 shares of the data storage provider’s stock after buying an additional 142,073 shares during the period. Boston Trust Walden Corp’s holdings in NetApp were worth $64,654,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its position in shares of NetApp by 1.1% during the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock valued at $1,091,499,000 after acquiring an additional 115,451 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of NetApp by 17.1% in the 3rd 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 during the last quarter. Norges Bank acquired a new stake in shares of NetApp during the fourth quarter worth $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NetApp by 17.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after purchasing an additional 611,003 shares during the period. Finally, Boston Partners increased its holdings in NetApp by 12.6% in the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after purchasing an additional 370,405 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 1.4%

NASDAQ NTAP opened at $154.17 on Friday. The firm has a market cap of $30.20 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.86 and a beta of 1.46. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The stock’s 50-day moving average is $141.43 and its 200-day moving average is $116.44. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. NetApp’s revenue for the quarter was up 12.5% compared to the same quarter last year. 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 anticipate that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is 32.70%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTAP. Susquehanna raised their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Argus upped their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Morgan Stanley increased their price target on shares of NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. UBS Group restated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a report on Friday, May 29th. Finally, Wells Fargo & Company upped their target price on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Five 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.com, NetApp presently has an average rating of “Hold” and a consensus target price of $169.33.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total value of $163,480.00. Following the completion of the transaction, the executive vice president directly owned 32,297 shares of the company’s stock, valued at approximately $5,279,913.56. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,964 shares of company stock valued at $8,106,972 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

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.