NetApp, Inc. $NTAP Shares Acquired by TD Asset Management Inc

TD Asset Management Inc lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,819,299 shares of the data storage provider’s stock after buying an additional 42,554 shares during the period. TD Asset Management Inc owned approximately 0.91% of NetApp worth $193,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Edmp Inc. boosted its position in shares of NetApp by 2.8% during the second quarter. Edmp Inc. now owns 10,236 shares of the data storage provider’s stock worth $1,091,000 after buying an additional 275 shares during the period. Morningstar Investment Management LLC acquired a new position in shares of NetApp during the second quarter worth approximately $324,000. Moran Wealth Management LLC raised its holdings in NetApp by 39.1% during the second quarter. Moran Wealth Management LLC now owns 282,888 shares of the data storage provider’s stock worth $30,142,000 after purchasing an additional 79,543 shares in the last quarter. NorthRock Partners LLC bought a new stake in NetApp during the second quarter worth approximately $504,000. Finally, Sequoia Financial Advisors LLC raised its holdings in NetApp by 82.7% during the second quarter. Sequoia Financial Advisors LLC now owns 9,432 shares of the data storage provider’s stock worth $1,005,000 after purchasing an additional 4,269 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

NASDAQ NTAP opened at $120.55 on Wednesday. The stock has a market capitalization of $24.06 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.58 and a beta of 1.45. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The business’s fifty day moving average is $116.49 and its two-hundred day moving average is $104.04. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company posted $1.56 EPS. NetApp’s quarterly revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts forecast 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 will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s payout ratio is presently 36.75%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the transaction, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,529 shares of company stock worth $3,362,874. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NTAP shares. Barclays boosted their target price on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Northland Securities boosted their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Wedbush reissued a “neutral” rating and set a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Morgan Stanley set a $117.00 target price on NetApp in a report on Thursday, August 28th. Finally, Citigroup boosted their target price on NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.40.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.