NetApp, Inc. $NTAP Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 529.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,330 shares of the data storage provider’s stock after buying an additional 48,219 shares during the quarter. M&T Bank Corp’s holdings in NetApp were worth $6,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTAP. Ascent Group LLC increased its position in shares of NetApp by 1.5% in the 3rd quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after purchasing an additional 90 shares during the last quarter. Caliber Wealth Management LLC KS increased its holdings in NetApp by 5.0% in the third quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after buying an additional 100 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in NetApp by 2.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock valued at $655,000 after buying an additional 106 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in shares of NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after acquiring an additional 107 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of NetApp by 2.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock valued at $537,000 after acquiring an additional 113 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the sale, the executive vice president directly owned 19,382 shares of the company’s stock, valued at $1,865,517.50. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 3,000 shares of company stock valued at $300,370. Insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NTAP opened at $108.71 on Friday. The stock’s 50 day simple moving average is $101.66 and its 200 day simple moving average is $106.90. The stock has a market cap of $21.45 billion, a P/E ratio of 18.18, a P/E/G ratio of 3.36 and a beta of 1.30. NetApp, Inc. has a 1-year low of $86.70 and a 1-year high of $126.66. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company earned $1.91 earnings per share. NetApp’s revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities analysts anticipate that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of research reports. Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of NetApp in a report on Wednesday, February 25th. Finally, Citigroup boosted their price target on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $120.75.

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.