Daymark Wealth Partners LLC Boosts Stock Position in NetApp, Inc. $NTAP

Daymark Wealth Partners LLC lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,146 shares of the data storage provider’s stock after purchasing an additional 1,916 shares during the quarter. Daymark Wealth Partners LLC’s holdings in NetApp were worth $2,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NTAP. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NetApp by 20.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider’s stock worth $5,247,000 after purchasing an additional 10,080 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of NetApp by 145.2% in the first quarter. Vontobel Holding Ltd. now owns 12,765 shares of the data storage provider’s stock worth $1,121,000 after purchasing an additional 7,559 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of NetApp by 6.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,428 shares of the data storage provider’s stock worth $3,727,000 after purchasing an additional 2,682 shares during the period. Horizon Financial Services LLC bought a new position in shares of NetApp in the first quarter worth $62,000. Finally, North Capital Inc. bought a new position in shares of NetApp in the first quarter worth $101,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 1.5%

Shares of NASDAQ:NTAP opened at $114.12 on Thursday. The stock’s 50-day moving average price is $118.76 and its 200-day moving average price is $106.89. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The stock has a market capitalization of $22.78 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.52 and a beta of 1.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $1.56 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, equities analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is 36.75%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Wedbush reissued a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Morgan Stanley set a $117.00 target price on NetApp in a research note on Thursday, August 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Finally, Bank of America increased their target price on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.40.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the sale, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,029 shares of company stock valued at $2,444,194. 0.28% of the stock is currently owned by insiders.

NetApp 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.