Forvis Mazars Wealth Advisors LLC Takes Position in NetApp, Inc. $NTAP

Forvis Mazars Wealth Advisors LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,418 shares of the data storage provider’s stock, valued at approximately $258,000.

Other hedge funds also recently bought and sold shares of the company. Achmea Investment Management B.V. increased its holdings in NetApp by 55.8% during the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock valued at $19,492,000 after purchasing an additional 79,457 shares during the period. Burns Matteson Capital Management LLC purchased a new position in NetApp during the 1st quarter valued at about $321,000. UNICOM Systems Inc. purchased a new position in NetApp during the 1st quarter valued at about $13,483,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in NetApp by 20.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider’s stock valued at $5,247,000 after purchasing an additional 10,080 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in NetApp by 6.7% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,428 shares of the data storage provider’s stock valued at $3,727,000 after purchasing an additional 2,682 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,750 shares of the business’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 value of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders have sold a total of 21,029 shares of company stock valued at $2,444,194 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NTAP shares. Barclays boosted their price target on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. UBS Group lifted their price objective on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Argus reaffirmed a “buy” rating and set a $130.00 price objective on shares of NetApp in a research report on Friday, August 29th. Northland Securities lifted their price objective on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $122.40.

NetApp Stock Performance

Shares of NTAP opened at $117.24 on Tuesday. 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 business’s 50 day moving average price is $117.65 and its 200-day moving average price is $105.13. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The stock has a market cap of $23.40 billion, a P/E ratio of 20.71, a P/E/G ratio of 2.59 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 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.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 firm earned $1.56 earnings per share. The business’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. Equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

NetApp 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.