Oppenheimer Asset Management Inc. Takes $2.75 Million Position in NetApp, Inc. $NTAP

Oppenheimer Asset Management Inc. purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 23,219 shares of the data storage provider’s stock, valued at approximately $2,751,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Harbour Investments Inc. raised its holdings in NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of NetApp in the 2nd quarter worth approximately $28,000. CVA Family Office LLC raised its stake in shares of NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 219 shares in the last quarter. SouthState Corp lifted its position in NetApp by 434.5% during the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 239 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in NetApp in the second quarter valued at approximately $34,000. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares in the company, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,654 shares of company stock worth $279,232. 0.28% of the stock is owned by corporate insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $98.22 on Friday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $127.78. The business’s 50 day moving average price is $106.24 and its 200 day moving average price is $111.52. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. The firm has a market cap of $19.45 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.32 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 EPS. 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, sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were paid a $0.52 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. NetApp’s dividend payout ratio is presently 36.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Northland Securities set a $137.00 price target on NetApp and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Bank of America boosted their price target on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group began coverage on shares of NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. Finally, Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.93.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.