Are NetApp’s Top Investors Selling Into the Mayhem?

For the year to-date, NetApp Inc.’s (NASDAQ:NTAP) shares are down 19.35 percent. After Wednesday’s market close, the computer storage specialist reported its fourth quarter earnings. Its net income exceeded analysts’ expectations with a rise to $180.7 million (47 cents per share) vs. $160.6 million (40 cents per share) from the same quarter in the previous year. This also represented a 12.5 % increase from the year-earlier quarter.

A Closer Look: NetApp Earnings Cheat Sheet>>

Revenue increased 19.2% to $1.7 billion from the year-earlier quarter but with NetApp’s (NASDAQ:NTAP) weak first-quarter guidance failing to meet expectations, the Street didn’t take the news well and the stock fell 14.33% in after-hours trading.

With NetApp’s (NASDAQ:NTAP)’s weak first quarter guidance causing concern for IT growth, how are the company’s largest shareholders responding to the news? 4 institutional firms indicated owning shares of NetApp, Inc. (NASDAQ:NTAP) in Q1 2012. These firms reported owning a total of 1.417 billion shares on 03/31/2012 . The shares closed at $44.77 on 03/31/2012.

Here are the ten largest positions in NetApp, Inc. at the end of March 31st, 2012.

Susquehanna International Group LLP held 92,748,000 shares on 03/31/2012 worth $134,369,000. This brought the portfolio total to 0.04%.

Waterstone Capital Management L.P. held 83,461,000 shares on 03/31/2012 worth $121,470,000. This brought the portfolio total to 8.91%.

Goldman Sachs Group Inc held 73,961,000 shares on 03/31/2012 worth $107,151,000. This brought the portfolio total to 0.05%.

Zazove Associates LLC held 71,310,000 shares on 03/31/2012 worth $103,801,000. This brought the portfolio total to 2.42%.

Lord Abbett & Co. LLC held 63,142,000 shares on 03/31/2012 worth $91,792,683. This brought the portfolio total to 0.2%.

Blackrock Institutional Trust Company N.A. held 60,645,000 shares on 03/31/2012 worth $87,859,000. This brought the portfolio total to 0.02%.

Silverback Asset Management LLC held 51,300,000 shares on 03/31/2012 worth $74,642,000. This brought the portfolio total to 4.09%.

Wolverine Asset Management LLC held 43,800,000 shares on 03/31/2012 worth $63,740,000. This brought the portfolio total to 1.23%.

Castle Creek Arbitrage LLC held 38,000,000 shares on 03/31/2012 worth $55,260,000. This brought the portfolio total to 3.11%.

D. E. Shaw & Co. Inc. held 37,500,000 shares on 03/31/2012 worth $54,559,000. This brought the portfolio total to 0.15%.

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