NetApp, Inc. $NTAP Holdings Raised by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 65.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,786 shares of the data storage provider’s stock after acquiring an additional 8,605 shares during the period. Wealthfront Advisers LLC’s holdings in NetApp were worth $2,581,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Harbour Investments Inc. boosted its position in 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 during the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of NetApp during the 2nd quarter worth about $28,000. CVA Family Office LLC lifted 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 buying an additional 219 shares during the last quarter. SouthState Corp grew its stake in shares of NetApp by 434.5% in 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 acquired a new position in NetApp in the second quarter worth approximately $34,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 327 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction 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 owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,654 shares of company stock worth $279,232. 0.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NTAP shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Thursday, January 22nd. Northland Securities set a $137.00 price objective on shares of NetApp and gave the company an “outperform” rating in a research note on Wednesday, November 26th. UBS Group upped their price objective on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Bank of America raised their target price on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Citigroup decreased their price target on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.93.

NetApp Stock Up 4.3%

NetApp stock opened at $102.42 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $127.78. The firm has a fifty day moving average price of $105.94 and a two-hundred day moving average price of $111.48. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.15 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) 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 company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $1.87 earnings per share. The firm’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. As a group, analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s dividend payout ratio is currently 36.17%.

NetApp Profile

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.