Raiffeisen Bank International AG Raises Stake in NetApp, Inc. $NTAP

Raiffeisen Bank International AG increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 24.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,833 shares of the data storage provider’s stock after purchasing an additional 8,542 shares during the quarter. Raiffeisen Bank International AG’s holdings in NetApp were worth $6,797,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its stake in NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after buying an additional 210 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of NetApp in the 2nd quarter valued at $315,000. Cerity Partners LLC lifted its holdings in shares of NetApp by 9.9% during the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after acquiring an additional 4,232 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of NetApp by 7.3% during the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after acquiring an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after purchasing an additional 2,277 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares in the company, valued at $7,246,504.92. This trade represents a 51.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth O’Callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. This represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,072 shares of company stock valued at $8,719,520 in the last three months. 0.36% of the stock is currently owned by company insiders.

NetApp Price Performance

NTAP opened at $185.38 on Friday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.46 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The company has a fifty day simple moving average of $178.07 and a 200 day simple moving average of $140.54.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 127.57%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Equities research analysts expect that NetApp, Inc. will post 7.34 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. NetApp’s dividend payout ratio is currently 32.70%.

Analysts Set New Price Targets

Several analysts recently issued reports on NTAP shares. Morgan Stanley increased their price target on NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday. Bank of America upped their target price on NetApp from $180.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday. Citigroup lowered their target price on NetApp from $209.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays raised their target price on NetApp from $199.00 to $219.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen lowered NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $192.07.

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q1 revenue of approximately $2.03 billion, up 30% year over year, while adjusted EPS of $2.58 exceeded the roughly $2.12 analyst consensus. All-flash array revenue rose 47% to $1.31 billion, and public-cloud revenue increased 28%, underscoring strong demand tied to AI infrastructure, data modernization and hybrid cloud adoption. NTAP Q1 Earnings and Revenues Top Estimates on AI and All-Flash Strength
• Positive Sentiment: The company raised its fiscal 2027 forecast to approximately $7.98 billion-$8.23 billion in revenue and $9.73-$10.03 in adjusted EPS, well above prior Wall Street expectations. Second-quarter guidance also topped consensus, supporting the view that AI-led infrastructure spending is becoming durable. NetApp Forecasts Fiscal 2027 Revenue and Raises EPS Outlook
• Positive Sentiment: Analyst sentiment remains broadly constructive following the report. TD Cowen reaffirmed its Buy rating with a $200 target, while Goldman Sachs maintained its Buy rating and a $210 target; Morgan Stanley, Susquehanna and other firms also raised targets. NetApp Analysts Boost Their Forecasts After Strong Q1 Earnings
• Neutral Sentiment: NetApp announced a quarterly dividend of $0.52 per share, payable October 28 to shareholders of record October 9, providing continued income support for investors. NetApp Declares a $0.52 Dividend
• Negative Sentiment: The initial reaction was negative because operating cash flow and free cash flow declined year over year, inventory increased, and management warned that second-quarter gross margin would fall sequentially amid component costs and product-mix pressure. With expectations elevated after a significant rally, investors viewed the results as a mixed bag despite the earnings beat. NetApp Beats Estimates but Tumbles on Free Cash Flow Decline

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.