Vise Technologies Inc. Makes New Investment in NetApp, Inc. $NTAP

Vise Technologies Inc. bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,593 shares of the data storage provider’s stock, valued at approximately $916,000.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of NetApp by 54.4% during the second quarter. Allworth Financial LP now owns 13,956 shares of the data storage provider’s stock worth $1,487,000 after acquiring an additional 4,917 shares in the last quarter. Cypress Capital LLC increased its position in NetApp by 137.4% in the 2nd quarter. Cypress Capital LLC now owns 30,550 shares of the data storage provider’s stock worth $3,255,000 after purchasing an additional 17,680 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of NetApp by 23.2% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 201,945 shares of the data storage provider’s stock worth $21,517,000 after purchasing an additional 38,071 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of NetApp by 11.7% during the 2nd quarter. ProShare Advisors LLC now owns 44,328 shares of the data storage provider’s stock valued at $4,723,000 after buying an additional 4,633 shares during the last quarter. Finally, CSM Advisors LLC bought a new stake in shares of NetApp in the 2nd quarter valued at approximately $6,740,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NTAP. Bank of America lifted their price objective on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Morgan Stanley set a $117.00 price target on NetApp in a research note on Thursday, August 28th. Argus reissued a “buy” rating and issued a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Finally, Northland Securities upped their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $122.07.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares in the company, valued at $2,922,074.76. The trade was a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the sale, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,029 shares of company stock valued at $2,338,294. Insiders own 0.28% of the company’s stock.

NetApp Trading Down 1.8%

Shares of NetApp stock opened at $109.60 on Friday. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market capitalization of $21.88 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. 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’s fifty day moving average price is $118.87 and its two-hundred day moving average price is $109.01.

NetApp (NASDAQ:NTAP) last posted its 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 company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.NetApp’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $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. On average, analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

NetApp 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.