PDS Planning Inc Takes $202,000 Position in NetApp, Inc. $NTAP

PDS Planning Inc bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,895 shares of the data storage provider’s stock, valued at approximately $202,000.

A number of other institutional investors have also modified their holdings of the stock. Manchester Capital Management LLC boosted its stake in shares of NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of NetApp in the first quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new stake in shares of NetApp in the first quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of NetApp in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity

In related news, CEO George Kurian sold 8,750 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The disclosure for this sale can be found here. Insiders have sold 28,529 shares of company stock worth $3,243,874 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTAP. UBS Group lifted their price target on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Northland Securities boosted their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Wedbush reiterated a “neutral” rating and set a $110.00 target price on shares of NetApp in a research report on Friday. Finally, Morgan Stanley set a $117.00 target price on NetApp in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $121.40.

NetApp Stock Up 4.3%

Shares of NASDAQ:NTAP opened at $118.86 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The stock’s fifty day simple moving average is $116.12 and its 200-day simple moving average is $103.93. The company has a market capitalization of $23.73 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.48 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The firm’s 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. As a group, equities research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s dividend payout ratio 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.