NetApp, Inc. $NTAP Shares Acquired by Stevens Capital Management LP

Stevens Capital Management LP lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 116.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,310 shares of the data storage provider’s stock after purchasing an additional 6,618 shares during the quarter. Stevens Capital Management LP’s holdings in NetApp were worth $1,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of NetApp by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock worth $51,266,000 after buying an additional 20,089 shares during the last quarter. National Pension Service raised its position in NetApp by 26.0% during the third quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock worth $18,868,000 after acquiring an additional 32,833 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of NetApp by 3.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock valued at $192,938,000 after purchasing an additional 66,045 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in shares of NetApp by 496.7% in the third quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after purchasing an additional 15,123 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of NetApp by 515.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock worth $13,713,000 after purchasing an additional 96,937 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Citigroup decreased their price objective on NetApp from $125.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Bank of America raised their price target on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, UBS Group boosted their price objective on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.86.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.

NetApp Stock Up 0.9%

NTAP opened at $102.48 on Friday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $127.78. The business has a 50-day moving average of $104.34 and a two-hundred day moving average of $111.41. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $20.30 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.23 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company earned $1.87 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. 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, research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

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

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.