Kepler Cheuvreux Suisse SA Purchases 36,655 Shares of NetApp, Inc. $NTAP

Kepler Cheuvreux Suisse SA boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 35.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,316 shares of the data storage provider’s stock after buying an additional 36,655 shares during the period. Kepler Cheuvreux Suisse SA’s holdings in NetApp were worth $14,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTAP. Arrowstreet Capital Limited Partnership increased its position in NetApp by 94.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after buying an additional 886,485 shares in the last quarter. AQR Capital Management LLC increased its holdings in NetApp by 71.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares in the last quarter. Wellington Management Group LLP increased its holdings in NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares in the last quarter. Bank of America Corp DE increased its holdings in NetApp by 83.0% during the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after purchasing an additional 700,467 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of NetApp by 216.1% in the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after buying an additional 634,085 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Stock Performance

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

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

NetApp Dividend Announcement

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

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Friday, April 10th. The stock was 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. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $300,370 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NTAP shares. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. The Goldman Sachs Group started coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price on the stock. Finally, Citigroup boosted their target price on NetApp from $110.00 to $114.00 and gave the stock 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 given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, NetApp presently has an average rating of “Hold” and an average target price of $122.64.

About NetApp

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.