Concurrent Investment Advisors LLC Takes $360,000 Position in NetApp, Inc. $NTAP

Concurrent Investment Advisors LLC acquired a new position in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,375 shares of the data storage provider’s stock, valued at approximately $360,000.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC grew its position in NetApp by 375.0% in 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 bought a new stake in shares of NetApp in the first quarter valued at about $25,000. Olde Wealth Management LLC acquired a new stake in NetApp during the first quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in NetApp by 54.9% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 124 shares during the period. Finally, Summit Securities Group LLC acquired a new position in NetApp in the 1st quarter valued at approximately $36,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated 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 $2,922,074.76. This represents a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction dated 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. In the last quarter, insiders sold 29,529 shares of company stock worth $3,362,874. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on NTAP shares. Northland Securities raised their price objective on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Bank of America raised their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Wedbush reissued a “neutral” rating and issued a $110.00 price target on shares of NetApp in a report on Friday, October 10th. William Blair reiterated a “market perform” rating on shares of NetApp in a research report on Thursday. Finally, UBS Group upped their target price on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $122.40.

NetApp Stock Down 0.3%

NTAP opened at $119.07 on Friday. The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.59 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The firm’s 50-day simple moving average is $117.42 and its 200-day simple moving average is $104.68. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp (NASDAQ:NTAP) last released 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 analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. NetApp’s quarterly revenue was up 1.2% on a year-over-year basis. 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. Equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

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