NetApp, Inc. $NTAP Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,955 shares of the data storage provider’s stock after purchasing an additional 5,577 shares during the period. Rhumbline Advisers owned about 0.23% of NetApp worth $54,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in NetApp by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after purchasing an additional 20,089 shares in the last quarter. National Pension Service lifted its stake 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 purchasing an additional 32,833 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in NetApp by 3.8% during the second quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock worth $192,938,000 after purchasing an additional 66,045 shares in the last quarter. J. Safra Sarasin Holding AG lifted its position in 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 acquiring an additional 15,123 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of NetApp by 515.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock valued at $13,713,000 after purchasing an additional 96,937 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $102.42 on Friday. The business has a 50 day moving average price of $105.94 and a 200 day moving average price of $111.48. The company has a market capitalization of $20.29 billion, a P/E ratio of 17.81, a PEG ratio of 2.15 and a beta of 1.38. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78. 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 (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.NetApp’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTAP shares. The Goldman Sachs Group initiated coverage on NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. UBS Group lifted their target price on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Wells Fargo & Company increased their price target on NetApp from $100.00 to $115.00 and gave the stock a “positive” 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. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetApp has a consensus rating of “Moderate Buy” and an average price target of $123.93.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 327 shares of NetApp stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred 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 directly owned 20,075 shares in the company, valued at approximately $2,076,758.75. The trade was a 4.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,654 shares of company stock worth $279,232 in the last ninety days. Insiders own 0.28% of the company’s stock.

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.