SCHEDULE 13G/A: PRIMECAP Management Discloses 6.01% Beneficial Ownership in NetApp, Inc.

PRIMECAP Management Co./CA/ has filed an amended Schedule 13G, reporting a 6.01% beneficial ownership stake in NetApp, Inc. as of December 31, 2024.

Summary

• PRIMECAP Management Co./CA/ reported beneficial ownership of 12,220,339 shares of NetApp, Inc. common stock.
• This ownership represents 6.01% of NetApp, Inc.'s outstanding common stock.
• PRIMECAP Management Co./CA/ holds sole voting power over 12,022,513 shares and sole dispositive power over all 12,220,339 shares.
• The filing is an Amendment No. 10 to a Schedule 13G, indicating an update to a previously reported position.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of NetApp, Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing disclosing beneficial ownership, providing factual information without expressing positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• PRIMECAP Management Co./CA/, a significant institutional investor, maintains a substantial beneficial ownership stake of 6.01% in NetApp, Inc., indicating continued investment.

Future Outlook

This document is a beneficial ownership report and does not contain any forward-looking statements or guidance regarding NetApp, Inc.'s future performance or outlook.

Management Comments

• PRIMECAP Management Co./CA/ certifies that, to the best of its knowledge and belief, the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing is a routine disclosure by an institutional investment manager, PRIMECAP Management Co./CA/, regarding its significant ownership stake in NetApp, Inc. Such disclosures are common in the financial industry to provide transparency on large equity holdings by qualified investors.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership in NetApp, Inc.

Key Dates

Keywords

NetApp Inc., NTAP, PRIMECAP Management, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Investment Management