Gateway Investment Advisers LLC Buys Shares of 7,621 NetApp, Inc. $NTAP

Gateway Investment Advisers LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,621 shares of the data storage provider’s stock, valued at approximately $816,000.

Several other hedge funds have also recently bought and sold shares of NTAP. Geneos Wealth Management Inc. increased its stake in shares of NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares during the period. Sivia Capital Partners LLC bought a new position in NetApp in the 2nd quarter worth approximately $315,000. Cerity Partners LLC increased its position in NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia increased its position in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after acquiring an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC raised its stake in NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after acquiring an additional 2,277 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of NetApp in a research report on Wednesday, February 25th. Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. The Goldman Sachs Group started coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Finally, Citigroup raised their target price on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $122.64.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the transaction, the executive vice president owned 19,382 shares of the company’s stock, valued at $1,865,517.50. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 3,000 shares of company stock worth $300,370. Company insiders own 0.28% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $118.00 on Friday. NetApp, Inc. has a 1 year low of $93.23 and a 1 year high of $126.66. The firm has a market cap of $23.28 billion, a P/E ratio of 19.73, a PEG ratio of 3.34 and a beta of 1.28. The stock has a fifty day moving average price of $102.98 and a two-hundred day moving average price of $106.38. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $1.91 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts forecast that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp’s dividend payout ratio is presently 34.78%.

NetApp Profile

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.