Concurrent Investment Advisors LLC Buys New Position in NetApp, Inc. $NTAP

Concurrent Investment Advisors LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,375 shares of the data storage provider’s stock, valued at approximately $360,000.

A number of other institutional investors also recently made changes to their positions in the stock. Achmea Investment Management B.V. lifted its position in NetApp by 55.8% in the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock worth $19,492,000 after purchasing an additional 79,457 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of NetApp during the 1st quarter valued at $321,000. UNICOM Systems Inc. acquired a new position in shares of NetApp in the 1st quarter valued at $13,483,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NetApp by 20.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider’s stock worth $5,247,000 after buying an additional 10,080 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in NetApp by 6.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,428 shares of the data storage provider’s stock valued at $3,727,000 after buying an additional 2,682 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Down 0.3%

NetApp stock opened at $119.07 on Friday. NetApp, Inc. has a 12 month low of $71.84 and a 12 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 stock has a market cap of $23.77 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.59 and a beta of 1.45. The company’s fifty day simple moving average is $117.42 and its 200-day simple moving average is $104.68.

NetApp (NASDAQ:NTAP) last announced 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 return on equity of 123.24% and a net margin of 17.77%.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 prior year, the business posted $1.56 earnings per share. NetApp’s revenue 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. As a group, sell-side 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. Investors of record on Friday, October 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp’s payout ratio is presently 36.75%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NTAP shares. Barclays lifted their target price on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Bank of America lifted their price objective on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. JPMorgan Chase & Co. increased their target price on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Citigroup raised their target price on NetApp from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Northland Securities upped their price target on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $122.40.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,529 shares of company stock worth $3,362,874. Insiders own 0.28% of the company’s stock.

NetApp Company Profile

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.