NetApp, Inc. $NTAP Shares Acquired by L2 Asset Management LLC

L2 Asset Management LLC increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 23.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,099 shares of the data storage provider’s stock after acquiring an additional 14,295 shares during the period. NetApp makes up about 1.3% of L2 Asset Management LLC’s investment portfolio, making the stock its 13th largest position. L2 Asset Management LLC’s holdings in NetApp were worth $8,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Laird Norton Wetherby Wealth Management LLC lifted its holdings in NetApp by 6.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 11,636 shares of the data storage provider’s stock valued at $1,378,000 after acquiring an additional 656 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of NetApp by 14.9% in the 3rd quarter. Larson Financial Group LLC now owns 6,889 shares of the data storage provider’s stock worth $816,000 after purchasing an additional 893 shares during the last quarter. Lido Advisors LLC grew its stake in shares of NetApp by 11.7% in the 3rd quarter. Lido Advisors LLC now owns 9,526 shares of the data storage provider’s stock worth $1,129,000 after purchasing an additional 1,001 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of NetApp by 7.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,954 shares of the data storage provider’s stock worth $1,179,000 after purchasing an additional 701 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its stake in NetApp by 3.5% during the third quarter. Hilltop Holdings Inc. now owns 5,404 shares of the data storage provider’s stock valued at $640,000 after purchasing an additional 184 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Up 3.6%

NTAP stock opened at $102.24 on Tuesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The firm has a market capitalization of $20.18 billion, a P/E ratio of 17.10, a P/E/G ratio of 3.06 and a beta of 1.39. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $126.66. The company’s 50 day simple moving average is $101.13 and its 200-day simple moving average is $110.47.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted $1.91 EPS. The company’s revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be 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 is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is 34.78%.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total transaction of $100,670.00. Following the transaction, the executive vice president directly owned 20,382 shares of the company’s stock, valued at approximately $2,051,855.94. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,000 shares of company stock worth $309,610 in the last quarter. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTAP. The Goldman Sachs Group assumed coverage on shares of NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price for the company. Barclays upped their price target on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Oppenheimer reissued a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Citigroup lifted their target price on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, Northland Securities set a $137.00 target price on NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.42.

NetApp Company 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.