National Wealth Management Group LLC Takes Position in NetApp, Inc. $NTAP

National Wealth Management Group LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,007 shares of the data storage provider’s stock, valued at approximately $712,000.

Other large investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted 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 buying an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in NetApp during the second quarter valued at approximately $28,000. CVA Family Office LLC boosted its stake in NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after buying an additional 219 shares during the last quarter. SouthState Corp grew its holdings in NetApp by 434.5% during the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after buying an additional 239 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of NetApp during the 2nd quarter worth approximately $34,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Performance

Shares of NetApp stock opened at $97.42 on Monday. The company has a 50 day moving average price of $108.98 and a 200 day moving average price of $112.13. The firm has a market capitalization of $19.30 billion, a P/E ratio of 16.94, a PEG ratio of 2.15 and a beta of 1.38. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $127.78. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were given a dividend of $0.52 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. NetApp’s dividend payout ratio is currently 36.17%.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, January 12th. The stock was sold at an average price of $105.49, for a total transaction of $105,490.00. Following the sale, the executive vice president directly owned 21,075 shares of the company’s stock, valued at $2,223,201.75. This represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,654 shares of company stock worth $175,782. 0.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NTAP shares. Wedbush reissued a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Barclays boosted their target price on shares of NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Wells Fargo & Company upped their target price on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. Citigroup dropped their price target on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Bank of America boosted their price objective on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

About NetApp

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.