New York Life Investment Management LLC Increases Stock Position in NetApp, Inc. $NTAP

New York Life Investment Management LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,722 shares of the data storage provider’s stock after purchasing an additional 441 shares during the quarter. New York Life Investment Management LLC’s holdings in NetApp were worth $3,273,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in NetApp by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after purchasing an additional 597,956 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in NetApp by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after purchasing an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NetApp by 18.8% during the 1st 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 in the last quarter. Invesco Ltd. raised its position in shares of NetApp by 12.3% during the 1st 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 in the last quarter. Finally, Amundi raised its position in shares of NetApp by 11.8% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $115.57 on Friday. The company has a market capitalization of $23.07 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.48 and a beta of 1.45. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The firm’s 50-day moving average is $118.91 and its 200 day moving average is $106.95. 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 issued its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, October 3rd. NetApp’s dividend payout ratio is presently 36.75%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. William Blair restated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Northland Securities upped their target price on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.40.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the transaction, the executive vice president owned 23,628 shares in the company, valued at $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,029 shares of company stock worth $2,444,194 in the last three months. Corporate insiders own 0.28% of the company’s stock.

NetApp Company 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.