Renasant Bank Takes $277,000 Position in NetApp, Inc. $NTAP

Renasant Bank purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,603 shares of the data storage provider’s stock, valued at approximately $277,000.

Other hedge funds have also bought and sold shares of the company. Burns Matteson Capital Management LLC bought a new position in NetApp during the 1st quarter worth $321,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of NetApp by 119.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 3,193 shares in the last quarter. Aurora Investment Counsel bought a new position in shares of NetApp in the second quarter worth $2,337,000. Citizens Financial Group Inc. RI raised its stake in NetApp by 6.5% in the first quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock valued at $5,311,000 after purchasing an additional 3,704 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in NetApp by 17.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock valued at $71,563,000 after purchasing an additional 122,784 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 20,029 shares of company stock valued at $2,338,294. 0.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on NTAP. Morgan Stanley set a $117.00 target price on shares of NetApp in a report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Wedbush restated a “neutral” rating and set a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Northland Securities raised their target price on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Finally, UBS Group boosted their price target on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.40.

NetApp Stock Performance

NASDAQ NTAP opened at $110.42 on Wednesday. The firm’s fifty day moving average price is $119.15 and its two-hundred day moving average price is $108.99. The stock has a market cap of $22.04 billion, a PE ratio of 19.51, a PEG ratio of 2.48 and a beta of 1.46. 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, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp (NASDAQ:NTAP) last announced 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). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, equities analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s dividend payout ratio (DPR) is presently 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.