Oppenheimer Asset Management Inc. Purchases New Position in NetApp, Inc. $NTAP

Oppenheimer Asset Management Inc. acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 23,219 shares of the data storage provider’s stock, valued at approximately $2,751,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbour Investments Inc. lifted its holdings in shares of NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in NetApp during the 2nd quarter valued at about $28,000. CVA Family Office LLC boosted its holdings in shares of NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 219 shares during the last quarter. SouthState Corp grew its stake in shares of NetApp by 434.5% in the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 239 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of NetApp during the second quarter valued at approximately $34,000. Institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the topic of several research reports. Oppenheimer restated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Citigroup reduced their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. UBS Group increased their target price on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, Northland Securities set a $137.00 price target on NetApp and gave the stock an “outperform” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.93.

NetApp Stock Down 7.3%

Shares of NASDAQ NTAP opened at $98.22 on Friday. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.32 and a beta of 1.38. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78. The firm’s 50-day moving average price is $106.24 and its 200-day moving average price is $111.52. The company has a current ratio of 1.34, a quick ratio of 1.30 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 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $1.87 EPS. The company’s revenue for the quarter 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. On average, equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

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

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,654 shares of company stock valued at $279,232 in the last quarter. 0.28% of the stock is currently owned by company insiders.

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.