Forvis Mazars Wealth Advisors LLC Invests $258,000 in NetApp, Inc. $NTAP

Forvis Mazars Wealth Advisors LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,418 shares of the data storage provider’s stock, valued at approximately $258,000.

Other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its holdings 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 worth $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC bought a new position in shares of NetApp in the first quarter worth $25,000. Harbour Investments Inc. boosted its holdings in shares of NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of NetApp in the second quarter worth $28,000. Finally, Olde Wealth Management LLC bought a new position in shares of NetApp in the first quarter worth $29,000. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,750 shares of the firm’s 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 of the company’s stock, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the transaction, the executive vice president directly owned 22,628 shares in the company, valued at $2,692,732. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,029 shares of company stock worth $2,444,194 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NTAP shares. JPMorgan Chase & Co. raised their price target on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. William Blair reissued a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Barclays lifted their price objective on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Wedbush reissued a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Finally, Bank of America lifted their price objective on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.40.

NetApp Trading Down 1.5%

NASDAQ NTAP opened at $117.24 on Tuesday. The stock’s 50-day simple moving average is $117.65 and its two-hundred day simple moving average is $105.13. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.59 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business earned $1.56 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp’s dividend payout ratio (DPR) is presently 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.