OFI Invest Asset Management Makes New Investment in NetApp, Inc. $NTAP

OFI Invest Asset Management purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,173 shares of the data storage provider’s stock, valued at approximately $125,000.

Several other institutional investors have also recently made changes to their positions in NTAP. Manchester Capital Management LLC increased its position in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 225 shares during the last quarter. 1248 Management LLC acquired a new position in shares of NetApp during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC acquired a new position in shares of NetApp during the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 124 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of NetApp during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTAP. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Wedbush reissued a “neutral” rating and set a $110.00 target price on shares of NetApp in a report on Friday. 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. UBS Group boosted their target price on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $121.40.

NetApp Stock Performance

NTAP opened at $113.94 on Monday. The business has a fifty day simple moving average of $115.80 and a 200 day simple moving average of $103.72. The company has a market capitalization of $22.74 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.48 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 company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP) last released 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). 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 business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Research analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

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

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 274,938 shares of the company’s stock, 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 sold 28,529 shares of company stock worth $3,243,874. 0.28% of the stock is currently owned by company 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.