NetApp, Inc. $NTAP Shares Purchased by Aberdeen Group plc

Aberdeen Group plc raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,883 shares of the data storage provider’s stock after buying an additional 19,122 shares during the period. Aberdeen Group plc’s holdings in NetApp were worth $17,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTAP. Pacer Advisors Inc. lifted its position in NetApp by 4,687.6% during the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock valued at $93,874,000 after buying an additional 1,046,372 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of NetApp by 1,230.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after purchasing an additional 931,850 shares during the period. Vanguard Group Inc. raised its stake in shares of NetApp by 2.3% during the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after purchasing an additional 597,956 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NetApp by 18.8% during the first 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 purchasing an additional 560,218 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of NetApp by 97.7% during the first quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock valued at $96,293,000 after purchasing an additional 541,837 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the transaction, the executive vice president owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders sold a total of 29,529 shares of company stock worth $3,362,874 over the last 90 days. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of analyst reports. Argus reiterated a “buy” rating and set a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Citigroup lifted their price objective on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. UBS Group lifted their price objective on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Finally, Wedbush reiterated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and a consensus target price of $121.40.

NetApp Stock Up 1.4%

NTAP stock opened at $120.55 on Wednesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The firm has a fifty day moving average price of $116.49 and a two-hundred day moving average price of $104.04. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.58 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.7%. NetApp’s payout ratio is presently 36.75%.

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.