NetApp, Inc. $NTAP Shares Acquired by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 407.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 310,200 shares of the data storage provider’s stock after purchasing an additional 249,097 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in NetApp were worth $48,007,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of NetApp during the 2nd quarter valued at about $2,925,168,000. State Street Corp boosted its position in shares of NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock worth $1,091,499,000 after acquiring an additional 115,451 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of NetApp in the second quarter worth approximately $1,395,423,000. Wellington Management Group LLP grew its holdings in NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after purchasing an additional 718,409 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NetApp by 9.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider’s stock valued at $687,762,000 after purchasing an additional 383,701 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of NetApp from $199.00 to $219.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup lowered their price objective on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America upped their price objective on NetApp from $180.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. TD Cowen reaffirmed a “buy” rating and issued a $200.00 target price on shares of NetApp in a research report on Thursday. Finally, Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, NetApp has an average rating of “Hold” and an average target price of $192.07.

Insider Buying and Selling at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the transaction, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,072 shares of company stock worth $8,719,520 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported record fiscal first-quarter results, with revenue rising 29.9% year over year to $2.03 billion and adjusted earnings of $2.58 per share, well above consensus estimates of $1.84 billion and approximately $2.13 per share. NTAP Q1 Earnings Beat Estimates on Hybrid, Public Cloud Revenue Growth
• Positive Sentiment: Management raised its fiscal 2027 adjusted EPS outlook to $9.73-$10.03 and forecast revenue of $7.975-$8.225 billion. Strong hybrid-cloud and public-cloud growth, all-flash storage demand and AI-related infrastructure upgrades are supporting the improved outlook. NetApp FY2027 Forecast and Raised EPS Outlook
• Positive Sentiment: Analysts largely raised their targets following the results. Goldman Sachs maintained a $210 target and TD Cowen reiterated its Buy rating with a $200 target, while Morgan Stanley lifted its target to $191. NetApp also expanded its AWS relationship by enabling storage migrations to Amazon FSx for NetApp ONTAP through AWS Transform.
• Neutral Sentiment: Analyst sentiment remains mixed: Citi downgraded the stock to Neutral with a $190 target, while Wedbush kept a Neutral rating despite raising its target to $170. The target changes suggest limited upside at current levels for some analysts.
• Negative Sentiment: The initial post-earnings selloff reflected a decline in free cash flow and management’s warning that second-quarter gross margin will decrease. Investors appear concerned that strong reported earnings and AI demand may not immediately translate into comparable cash generation.

NetApp Trading Up 0.1%

NASDAQ NTAP opened at $185.59 on Friday. NetApp, Inc. has a one year low of $93.69 and a one year high of $209.06. The company’s 50 day moving average price is $178.73 and its 200 day moving average price is $140.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.39 and a current ratio of 1.24. The firm has a market capitalization of $36.42 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.52 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company posted $1.15 earnings per share. NetApp’s revenue was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, sell-side analysts predict that NetApp, Inc. will post 7.34 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. NetApp’s payout ratio is presently 29.34%.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.