Vanguard Group Inc. Acquires 686,188 Shares of NetApp, Inc. $NTAP

Vanguard Group Inc. boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,728,118 shares of the data storage provider’s stock after purchasing an additional 686,188 shares during the quarter. Vanguard Group Inc. owned about 13.84% of NetApp worth $2,954,431,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. grew its position in NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of NetApp during the second quarter valued at approximately $28,000. 1248 Management LLC bought a new position in shares of NetApp during the 1st quarter valued at $25,000. Manchester Capital Management LLC boosted its position in NetApp by 375.0% in the first 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. Finally, CVA Family Office LLC boosted its holdings in shares of NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on 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 directly owned 23,628 shares of the company’s stock, valued at $2,922,074.76. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the 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 sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,183 shares of company stock worth $1,483,361 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. UBS Group lifted their price target on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Barclays raised 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. Citigroup lowered their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Argus reissued a “buy” rating and issued a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $122.07.

NetApp Trading Down 2.9%

NTAP opened at $103.24 on Friday. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.48 and a beta of 1.46. The stock has a fifty day moving average price of $117.28 and a 200-day moving average price of $109.60. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 EPS. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

About NetApp

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.