Russell Investments Group Ltd. Boosts Stake in NetApp, Inc. $NTAP

Russell Investments Group Ltd. grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 42.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 481,657 shares of the data storage provider’s stock after buying an additional 143,820 shares during the period. Russell Investments Group Ltd. owned approximately 0.24% of NetApp worth $57,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC purchased a new position in NetApp in the third quarter worth about $27,000. Rossby Financial LCC boosted its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of NetApp during the 2nd quarter valued at approximately $34,000. CYBER HORNET ETFs LLC bought a new position in shares of NetApp during the 2nd quarter valued at approximately $56,000. Finally, Richardson Financial Services Inc. raised its holdings in NetApp by 49.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 484 shares of the data storage provider’s stock valued at $57,000 after buying an additional 160 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred 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 owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group lifted their price objective on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Citigroup raised their target price on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target for the company. Northland Securities set a $137.00 price objective on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company raised their price objective on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.42.

NetApp Stock Down 3.7%

Shares of NTAP opened at $96.91 on Wednesday. The firm has a market capitalization of $19.12 billion, a P/E ratio of 16.21, a P/E/G ratio of 3.12 and a beta of 1.39. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $126.66. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The firm has a fifty day moving average price of $101.74 and a 200-day moving average price of $110.85.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm posted $1.91 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s payout ratio is currently 34.78%.

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.