Dimensional Fund Advisors LP Buys 13,195 Shares of NetApp, Inc. $NTAP

Dimensional Fund Advisors LP boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,091,817 shares of the data storage provider’s stock after purchasing an additional 13,195 shares during the quarter. Dimensional Fund Advisors LP’s holdings in NetApp were worth $247,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cresset Asset Management LLC raised its position in shares of NetApp by 3.7% during the third quarter. Cresset Asset Management LLC now owns 13,666 shares of the data storage provider’s stock worth $1,619,000 after acquiring an additional 490 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in NetApp by 35.4% in the third quarter. Focus Partners Advisor Solutions LLC now owns 6,876 shares of the data storage provider’s stock valued at $788,000 after acquiring an additional 1,799 shares during the last quarter. Kingsview Wealth Management LLC increased its position in NetApp by 3.0% in the third quarter. Kingsview Wealth Management LLC now owns 6,184 shares of the data storage provider’s stock worth $733,000 after purchasing an additional 180 shares during the period. Elo Mutual Pension Insurance Co increased its position in NetApp by 36.6% in the third quarter. Elo Mutual Pension Insurance Co now owns 26,555 shares of the data storage provider’s stock worth $3,146,000 after purchasing an additional 7,113 shares during the period. Finally, Bahl & Gaynor Inc. raised its holdings in NetApp by 1.5% during the 3rd quarter. Bahl & Gaynor Inc. now owns 108,247 shares of the data storage provider’s stock worth $12,823,000 after purchasing an additional 1,581 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 value of $103,450.00. Following the completion of the sale, the executive vice president owned 20,075 shares in the company, valued at $2,076,758.75. This represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is owned by company insiders.

NetApp Stock Performance

Shares of NTAP stock opened at $101.06 on Friday. The stock has a market cap of $19.94 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 3.13 and a beta of 1.39. The stock has a 50-day moving average of $102.15 and a 200-day moving average of $110.98. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a one year low of $71.84 and a one year high of $126.66.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. NetApp’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 EPS. 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, sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is currently 34.78%.

Analysts Set New Price Targets

NTAP has been the topic of several recent research reports. UBS Group raised their target price on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Oppenheimer restated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wells Fargo & Company lifted their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a report on Wednesday, November 26th. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Finally, The Goldman Sachs Group began coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.42.

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.