NEOS Investment Management LLC Acquires 8,406 Shares of NetApp, Inc. $NTAP

NEOS Investment Management LLC increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 49.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,369 shares of the data storage provider’s stock after purchasing an additional 8,406 shares during the period. NEOS Investment Management LLC’s holdings in NetApp were worth $3,005,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NTAP. Norges Bank purchased a new stake in NetApp during the second quarter valued at about $281,093,000. Boston Partners boosted its stake in shares of NetApp by 108.9% during the second 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 during the period. Geode Capital Management LLC boosted its stake in shares of NetApp by 16.8% during the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after purchasing an additional 1,024,626 shares during the period. Pacer Advisors Inc. grew its holdings in shares of NetApp by 103.6% in the third quarter. Pacer Advisors Inc. now owns 1,783,103 shares of the data storage provider’s stock worth $211,226,000 after purchasing an additional 907,233 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of NetApp by 83.0% in the second quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after buying an additional 700,467 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total value of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Barclays boosted their price objective on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Wells Fargo & Company raised their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Northland Securities set a $137.00 price target on shares of NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Finally, The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, NetApp presently has a consensus rating of “Moderate Buy” and an average price target of $122.86.

NetApp Price Performance

Shares of NTAP opened at $101.60 on Friday. The firm’s 50-day simple moving average is $104.61 and its two-hundred day simple moving average is $111.42. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $127.78. The stock has a market cap of $20.12 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.23 and a beta of 1.38. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share 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 company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the business posted $1.87 EPS. The firm’s quarterly 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. Analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s dividend payout ratio is 36.17%.

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.