New York Life Investment Management LLC Buys 441 Shares of NetApp, Inc. $NTAP

New York Life Investment Management LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 30,722 shares of the data storage provider’s stock after purchasing an additional 441 shares during the quarter. New York Life Investment Management LLC’s holdings in NetApp were worth $3,273,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NTAP. Tevis Investment Management boosted its stake in shares of NetApp by 9.9% during the second quarter. Tevis Investment Management now owns 3,618 shares of the data storage provider’s stock valued at $385,000 after purchasing an additional 325 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of NetApp by 11.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,396 shares of the data storage provider’s stock valued at $6,222,000 after purchasing an additional 6,200 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of NetApp by 24.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 18,820 shares of the data storage provider’s stock valued at $2,005,000 after purchasing an additional 3,679 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of NetApp by 12.8% during the second quarter. Nisa Investment Advisors LLC now owns 71,181 shares of the data storage provider’s stock valued at $7,584,000 after purchasing an additional 8,067 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in shares of NetApp by 27.7% during the second quarter. Wealthfront Advisers LLC now owns 13,181 shares of the data storage provider’s stock valued at $1,404,000 after purchasing an additional 2,862 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NTAP has been the topic of a number of recent research reports. Barclays increased their price objective on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. UBS Group increased 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. Wedbush reiterated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.40.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction 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 directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,029 shares of company stock valued at $2,444,194. Insiders own 0.28% of the company’s stock.

NetApp Trading Up 1.3%

NASDAQ:NTAP opened at $115.57 on Friday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The firm has a 50 day moving average of $118.91 and a 200 day moving average of $106.95. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $23.07 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.48 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned $1.56 EPS. The company’s revenue 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. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

About NetApp

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.