NetApp, Inc. $NTAP Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 456,955 shares of the data storage provider’s stock after purchasing an additional 5,577 shares during the quarter. Rhumbline Advisers’ holdings in NetApp were worth $54,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NTAP. Vanguard Group Inc. raised its holdings in NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock valued at $2,954,431,000 after acquiring an additional 686,188 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after acquiring an additional 1,024,626 shares in the last quarter. Boston Partners increased its holdings in NetApp by 108.9% in the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after purchasing an additional 1,536,339 shares in the last quarter. Norges Bank purchased a new stake in shares of NetApp during the 2nd quarter valued at about $281,093,000. Finally, Amundi boosted its holdings in NetApp by 8.4% in the 2nd quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock worth $237,269,000 after acquiring an additional 182,318 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research report on Thursday, January 22nd. The Goldman Sachs Group assumed 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. Barclays lifted 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. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Finally, Bank of America raised their price objective on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.93.

NetApp Trading Up 4.3%

NASDAQ:NTAP opened at $102.42 on Friday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78. 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 business has a 50 day simple moving average of $105.94 and a 200 day simple moving average of $111.48. The firm has a market capitalization of $20.29 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.15 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company earned $1.87 EPS. The company’s revenue for the quarter 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. Equities 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 was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s payout ratio is presently 36.17%.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 20,075 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,654 shares of company stock valued at $279,232. Company insiders own 0.28% of the company’s stock.

About NetApp

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.