NetApp, Inc. $NTAP Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 19.8% in the third quarter, HoldingsChannel reports. The fund owned 1,179,651 shares of the data storage provider’s stock after buying an additional 195,289 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in NetApp were worth $247,821,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NTAP. BlackRock Inc. bought a new position in shares of NetApp during the second quarter valued at about $2,925,168,000. Primecap Management Co. CA purchased a new position in shares of NetApp in the second quarter worth about $1,395,423,000. First Trust Advisors LP increased its holdings in shares of NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after buying an additional 2,046,912 shares during the period. Legal & General Group Plc bought a new stake in shares of NetApp in the 2nd quarter valued at about $258,093,000. Finally, Bank of America Corp DE bought a new stake in shares of NetApp in the 2nd quarter valued at about $235,682,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $209.97 on Wednesday. The stock has a market cap of $41.24 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 2.23 and a beta of 1.46. The firm’s fifty day simple moving average is $202.37 and its 200 day simple moving average is $165.20. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $240.87. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.12 by $0.46. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company posted $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. As a group, research analysts predict that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 1.0%. NetApp’s dividend payout ratio (DPR) is 29.34%.

Insiders Place Their Bets

In other NetApp news, Director Deepak Ahuja sold 3,450 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $200.00, for a total transaction of $690,000.00. Following the transaction, the director owned 12,814 shares in the company, valued at approximately $2,562,800. This represents a 21.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Nevens sold 5,940 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $195.21, for a total value of $1,159,547.40. Following the completion of the transaction, the director directly owned 7,747 shares of the company’s stock, valued at $1,512,291.87. This represents a 43.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,524 shares of company stock valued at $35,018,126 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on NTAP. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $240.00 price target on shares of NetApp in a research note on Tuesday, October 6th. TD Cowen lifted their target price on shares of NetApp from $200.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Zacks Research raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 9th. Barclays lowered shares of NetApp from an “overweight” rating to an “equal weight” rating and set a $219.00 price target for the company. in a report on Wednesday, October 14th. Finally, Wells Fargo & Company increased their price target on shares of NetApp from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.20.

About NetApp

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company’s portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.