OFI Invest Asset Management bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,173 shares of the data storage provider’s stock, valued at approximately $125,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTAP. Pacer Advisors Inc. boosted its holdings in NetApp by 4,687.6% during the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock worth $93,874,000 after buying an additional 1,046,372 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in NetApp by 1,230.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after buying an additional 931,850 shares during the last quarter. Vanguard Group Inc. boosted its holdings in NetApp by 2.3% during the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after buying an additional 597,956 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NetApp by 18.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after buying an additional 560,218 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in NetApp by 97.7% during the first quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock worth $96,293,000 after buying an additional 541,837 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Bank of America raised their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Citigroup lifted their price objective on NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, August 11th. Argus reiterated a “buy” rating and set a $130.00 price objective on shares of NetApp in a report on Friday, August 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has an average rating of “Hold” and an average target price of $121.40.
Insider Activity at NetApp
In related news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the transaction, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,529 shares of company stock valued at $3,243,874. 0.28% of the stock is owned by insiders.
NetApp Stock Down 5.3%
Shares of NetApp stock opened at $113.94 on Monday. The business’s 50 day simple moving average is $115.80 and its 200 day simple moving average is $103.72. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market cap of $22.74 billion, a PE ratio of 20.13, a P/E/G ratio of 2.48 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.
NetApp (NASDAQ:NTAP – Get Free Report) last announced its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $1.56 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.
About NetApp
NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.
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