Element Capital Management LLC Takes $1.19 Million Position in NetApp, Inc. $NTAP

Posted by Stanley Muller on Jun 18th, 2026

Element Capital Management LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,084 shares of the data storage provider’s stock, valued at approximately $1,187,000.

Other hedge funds also recently modified their holdings of the company. Rossby Financial LCC grew its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares in the last quarter. Park Square Financial Group LLC grew its holdings in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc bought a new position in shares of NetApp in the 4th quarter valued at about $30,000. DV Equities LLC acquired a new stake in NetApp in the 4th quarter valued at about $30,000. Finally, JFS Wealth Advisors LLC lifted its stake in NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Citigroup raised their target price on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wedbush raised their target price on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley raised their target price on shares of NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Finally, Bank of America raised their target price on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $169.33.

View Our Latest Research Report on NTAP

NetApp Stock Down 4.0%

NASDAQ NTAP opened at $154.81 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The company has a 50 day moving average of $129.32 and a 200-day moving average of $113.33. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 2.95 and a beta of 1.45.

NetApp (NASDAQ:NTAP – Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, equities research analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s payout ratio is presently 32.70%.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total transaction of $163,480.00. Following the completion of the transaction, the executive vice president directly owned 32,297 shares in the company, valued at $5,279,913.56. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,500 shares of company stock valued at $448,955. 0.28% of the stock is owned by company insiders.

NetApp Profile

(Free Report)

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.