NorthRock Partners LLC Purchases Shares of 4,734 NetApp, Inc. $NTAP

NorthRock Partners LLC purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent filing with the SEC. The fund purchased 4,734 shares of the data storage provider’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NTAP. Pacer Advisors Inc. lifted its holdings in NetApp by 4,687.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock valued at $93,874,000 after buying an additional 1,046,372 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after buying an additional 931,850 shares in the last quarter. Vanguard Group Inc. lifted its holdings in NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after buying an additional 597,956 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after purchasing an additional 560,218 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of NetApp by 97.7% in the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock worth $96,293,000 after purchasing an additional 541,837 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTAP has been the subject of several research reports. Northland Securities upped their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. UBS Group upped their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Argus reaffirmed a “buy” rating and issued a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. Citigroup upped their price target on shares of NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Finally, Wedbush reissued a “neutral” rating and set a $110.00 target price on shares of NetApp in a research report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $121.40.

NetApp Trading Up 0.8%

NASDAQ:NTAP opened at $121.47 on Thursday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The firm has a 50 day moving average of $116.85 and a 200 day moving average of $104.16. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.62 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company posted $1.56 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. NetApp’s dividend payout ratio is presently 36.75%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s 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 owned 23,628 shares in the company, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were 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 $33,792,629.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,529 shares of company stock worth $3,362,874. 0.28% of the stock is owned by corporate insiders.

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.