Wealthfront Advisers LLC Has $3.44 Million Position in NetApp, Inc. $NTAP

Wealthfront Advisers LLC raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,611 shares of the data storage provider’s stock after acquiring an additional 6,914 shares during the quarter. Wealthfront Advisers LLC’s holdings in NetApp were worth $3,441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NTAP. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of NetApp in the 1st quarter valued at $246,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of NetApp by 18.2% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 132,741 shares of the data storage provider’s stock worth $13,590,000 after purchasing an additional 20,400 shares during the period. Checchi Capital Advisers LLC grew its stake in shares of NetApp by 14.7% during the first quarter. Checchi Capital Advisers LLC now owns 3,473 shares of the data storage provider’s stock worth $356,000 after purchasing an additional 446 shares during the period. Bleakley Financial Group LLC bought a new position in NetApp during the first quarter worth about $1,153,000. Finally, Arbejdsmarkedets Tillaegspension grew its position in shares of NetApp by 22.5% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 242,897 shares of the data storage provider’s stock worth $24,870,000 after buying an additional 44,611 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 $163.88 on Monday. The company has a fifty day moving average price of $153.28 and a 200 day moving average price of $120.61. The firm has a market cap of $32.16 billion, a PE ratio of 25.77, a PEG ratio of 2.99 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts predict that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s payout ratio is presently 32.70%.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. This trade represents a 17.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 52,964 shares of company stock worth $8,181,642. Corporate insiders own 0.28% of the company’s stock.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NTAP shares. Argus upped their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Morgan Stanley lifted their price objective on shares of NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th. Wedbush boosted their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Northland Securities increased their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price target on shares of NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.33.

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.