NetApp, Inc. $NTAP Position Decreased by Invariant Investment Management

Invariant Investment Management trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 44.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,871 shares of the data storage provider’s stock after selling 2,284 shares during the period. Invariant Investment Management’s holdings in NetApp were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after buying an additional 101 shares during the period. Assetmark Inc. boosted its holdings in NetApp by 3.0% during the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after buying an additional 104 shares in the last quarter. MRWM Advisors LLC grew its position in NetApp by 1.8% during the first quarter. MRWM Advisors LLC now owns 6,794 shares of the data storage provider’s stock valued at $696,000 after buying an additional 122 shares during the period. Frank Rimerman Advisors LLC grew its position in NetApp by 2.4% during the first quarter. Frank Rimerman Advisors LLC now owns 5,578 shares of the data storage provider’s stock valued at $571,000 after buying an additional 131 shares during the period. Finally, Elevation Wealth Partners LLC increased its holdings in NetApp by 90.8% in the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock valued at $61,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush boosted their price objective on NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Wells Fargo & Company increased their target price on NetApp from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Zacks Research raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 9th. Bank of America boosted their price target on shares of NetApp from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Finally, Northland Securities increased their price objective on shares of NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.20.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp’s integration with AWS Transform allows customers to migrate block-storage data from ONTAP directly to Amazon FSx alongside compute and networking workloads. The partnership could expand NetApp’s cloud opportunity and help position ONTAP as a preferred storage platform for enterprise migrations. Can AWS Transform Make NetApp the Default Storage Landing Zone in the Cloud?
• Positive Sentiment: NetApp and Oracle also announced a fully managed cloud-storage service, reinforcing the company’s multicloud strategy and potentially supporting recurring revenue growth. NetApp and Oracle Partner to Provide Fully Managed Cloud Storage Service
• Positive Sentiment: Evercore upgraded NTAP, citing a favorable outlook and arguing that additional new products may not be necessary to drive further upside. Other analyst coverage has also turned more constructive, including a recent upgrade and higher price targets. NetApp stock scores analyst upgrade to buy after big rally
• Neutral Sentiment: NetApp has gained roughly 147% over six months, supported by AI-related storage demand, all-flash growth and cloud expansion. The rally places the stock near its 52-week high and leaves investors focused on whether earnings growth can justify the elevated valuation. NetApp Up 147% in the Past 6 Months
• Negative Sentiment: Analysts and technical observers warn that NTAP may be overvalued after its rapid advance, with an RSI above 70 signaling overbought conditions and potential profit-taking. Premium valuation and possible margin pressure remain key risks.
• Negative Sentiment: Director Carrie Palin sold 5,000 shares, while CEO George Kurian reportedly sold 10,000 shares. Although insider sales do not necessarily indicate deteriorating fundamentals, they can add to near-term investor caution. NetApp Insider Carrie Palin Sells 5,000 Shares

NetApp Trading Down 2.0%

NASDAQ NTAP traded down $4.72 during trading on Thursday, hitting $231.05. The stock had a trading volume of 2,267,322 shares, compared to its average volume of 2,699,758. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $238.07. The company has a market capitalization of $45.38 billion, a PE ratio of 32.59, a PEG ratio of 2.46 and a beta of 1.46. The firm has a 50 day moving average price of $197.24 and a 200 day moving average price of $158.51.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, topping 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 company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, equities research analysts forecast that NetApp, Inc. will post 8.32 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. NetApp’s payout ratio is currently 29.34%.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $184.74, for a total value of $184,740.00. Following the completion of the sale, the executive vice president directly owned 30,737 shares in the company, valued at approximately $5,678,353.38. The trade was a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 10,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $210.04, for a total value of $2,100,400.00. Following the completion of the sale, the chief executive officer directly owned 208,537 shares in the company, valued at $43,801,111.48. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 173,524 shares of company stock valued at $34,951,626 over the last quarter. Company insiders own 0.36% of the company’s stock.

NetApp Company Profile

NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.

Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.