Stevens Capital Management LP Increases Holdings in NetApp, Inc. $NTAP

Stevens Capital Management LP increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 135.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,692 shares of the data storage provider’s stock after purchasing an additional 3,279 shares during the quarter. Stevens Capital Management LP’s holdings in NetApp were worth $606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC increased its position in NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares during the last quarter. 1248 Management LLC bought a new position in shares of NetApp during the 1st quarter worth $25,000. Harbour Investments Inc. increased its holdings in NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in NetApp in the 2nd quarter worth about $28,000. Finally, CVA Family Office LLC raised its stake in NetApp by 300.0% in the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 219 shares during the period. 92.17% of the stock is owned by institutional investors.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,183 shares of company stock worth $1,483,361 in the last ninety days. 0.28% of the stock is owned by company insiders.

NetApp Trading Up 3.9%

Shares of NTAP opened at $107.30 on Friday. The firm’s 50 day simple moving average is $116.95 and its 200 day simple moving average is $109.70. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The company has a market capitalization of $21.42 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). The firm 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%.NetApp’s revenue for the quarter was up 1.2% compared to the same quarter last year. 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. Sell-side analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.9%. NetApp’s payout ratio is currently 36.75%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of research reports. William Blair reiterated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Morgan Stanley set a $117.00 price objective on shares of NetApp in a report on Thursday, August 28th. Citigroup lowered their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Six analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $120.43.

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.