Charles Schwab Investment Management Inc. Acquires 19,392 Shares of NetApp, Inc. $NTAP

Charles Schwab Investment Management Inc. raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,303,029 shares of the data storage provider’s stock after acquiring an additional 19,392 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in NetApp were worth $138,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC increased its holdings in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. 1248 Management LLC bought a new stake in NetApp during the first quarter worth approximately $25,000. Harbour Investments Inc. grew its holdings in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of NetApp in the second quarter valued at approximately $28,000. Finally, CVA Family Office LLC raised its position in shares of NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $109.25 on Thursday. The firm has a market capitalization of $21.81 billion, a PE ratio of 19.30, a PEG ratio of 2.48 and a beta of 1.46. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $131.30. The business’s 50 day moving average is $116.11 and its 200-day moving average is $110.16.

NetApp (NASDAQ:NTAP) last issued its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.16. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the company posted $1.87 earnings per share. NetApp’s revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. Sell-side analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, January 2nd. NetApp’s payout ratio is 36.75%.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. UBS Group raised their target price on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. Bank of America upped their price target on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and set a $110.00 target price on shares of NetApp in a research report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.07.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of NetApp 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the sale, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,183 shares of company stock valued at $1,483,361 over the last quarter. 0.28% of the stock is owned by company insiders.

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.