NetApp, Inc. $NTAP Stake Increased by Edmp Inc.

Edmp Inc. lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,236 shares of the data storage provider’s stock after acquiring an additional 275 shares during the quarter. Edmp Inc.’s holdings in NetApp were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after acquiring an additional 597,956 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in NetApp by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock valued at $623,383,000 after buying an additional 72,223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NetApp by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after buying an additional 560,218 shares during the last quarter. Invesco Ltd. lifted its stake in NetApp by 12.3% in the first quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock valued at $308,107,000 after buying an additional 384,362 shares during the last quarter. Finally, Amundi lifted its stake in NetApp by 11.8% in the first quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock valued at $183,209,000 after buying an additional 230,793 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NTAP. UBS Group raised their target price on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Northland Securities raised their price target on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Wedbush reissued a “neutral” rating and set a $110.00 price target on shares of NetApp in a report on Friday. Argus reiterated a “buy” rating and issued a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. Finally, Barclays increased their target price on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $121.40.

NetApp Price Performance

NASDAQ:NTAP opened at $118.86 on Tuesday. The business’s 50-day moving average price is $116.12 and its 200 day moving average price is $103.93. The firm has a market cap of $23.73 billion, a P/E ratio of 21.00, a PEG ratio of 2.48 and a beta of 1.45. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

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

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

Insiders Place Their Bets

In other NetApp news, 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 transaction 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 approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 28,529 shares of company stock worth $3,243,874. 0.28% of the stock is currently owned by company insiders.

About NetApp

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.