Cypress Capital Advisors LLC Boosts Holdings in NetApp, Inc. $NTAP

Cypress Capital Advisors LLC lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 129.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,834 shares of the data storage provider’s stock after acquiring an additional 5,542 shares during the period. NetApp accounts for about 0.7% of Cypress Capital Advisors LLC’s investment portfolio, making the stock its 28th largest position. Cypress Capital Advisors LLC’s holdings in NetApp were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Public Sector Pension Investment Board grew its stake in shares of NetApp by 6.5% during the 1st quarter. Public Sector Pension Investment Board now owns 31,555 shares of the data storage provider’s stock valued at $2,772,000 after buying an additional 1,935 shares during the period. HighTower Advisors LLC grew its position in NetApp by 110.9% during the first quarter. HighTower Advisors LLC now owns 36,717 shares of the data storage provider’s stock valued at $3,225,000 after acquiring an additional 19,306 shares during the period. Resona Asset Management Co. Ltd. increased its stake in NetApp by 3.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 66,142 shares of the data storage provider’s stock worth $5,815,000 after acquiring an additional 2,435 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of NetApp by 391.6% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 85,903 shares of the data storage provider’s stock worth $7,546,000 after purchasing an additional 68,428 shares during the period. Finally, Horizon Investments LLC raised its holdings in shares of NetApp by 3.8% in the 1st quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock worth $255,000 after purchasing an additional 107 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NTAP. William Blair restated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Wells Fargo & Company raised their target price on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Bank of America upped their price target on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Northland Securities set a $137.00 price objective on NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Finally, Barclays upped their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.07.

NetApp Stock Performance

NASDAQ:NTAP opened at $115.66 on Friday. The firm has a 50-day moving average of $114.67 and a two-hundred day moving average of $111.49. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market cap of $22.91 billion, a P/E ratio of 20.11, a PEG ratio of 2.56 and a beta of 1.42. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $1.87 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. On average, research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, January 2nd. NetApp’s dividend payout ratio is 36.17%.

Insiders Place Their Bets

In related news, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the completion of the sale, the executive vice president directly owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,183 shares of company stock valued at $1,359,691 in the last ninety days. Corporate insiders own 0.28% of the company’s stock.

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.