Intech Investment Management LLC Boosts Holdings in NetApp, Inc. $NTAP

Intech Investment Management LLC lifted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 41.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,133 shares of the data storage provider’s stock after purchasing an additional 7,117 shares during the period. Intech Investment Management LLC’s holdings in NetApp were worth $2,571,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of NetApp by 18.0% during the first quarter. CWM LLC now owns 9,963 shares of the data storage provider’s stock worth $875,000 after acquiring an additional 1,522 shares during the period. Private Advisor Group LLC acquired a new stake in NetApp in the 1st quarter valued at about $381,000. IFP Advisors Inc boosted its stake in shares of NetApp by 24.1% in the 1st quarter. IFP Advisors Inc now owns 4,042 shares of the data storage provider’s stock valued at $355,000 after buying an additional 786 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of NetApp by 3.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 15,801 shares of the data storage provider’s stock worth $1,388,000 after buying an additional 584 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in NetApp by 38.5% in the first quarter. Lindbrook Capital LLC now owns 2,042 shares of the data storage provider’s stock valued at $179,000 after acquiring an additional 568 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Down 0.1%

NASDAQ:NTAP opened at $106.27 on Thursday. The company has a market capitalization of $21.21 billion, a PE ratio of 18.78, a P/E/G ratio of 2.48 and a beta of 1.46. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The stock’s 50 day moving average price is $117.72 and its 200 day moving average price is $109.64. 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 (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. NetApp’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were paid a $0.52 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. NetApp’s payout ratio is currently 36.75%.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares in the company, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,183 shares of company stock worth $1,483,361. 0.28% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTAP. Wedbush reiterated a “neutral” rating and set a $110.00 price target on shares of NetApp in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Argus reissued a “buy” rating and issued a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Bank of America lifted their price target on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Finally, Barclays upped their price objective on NetApp from $117.00 to $125.00 and gave the stock an “overweight” 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $122.07.

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.