Chevy Chase Trust Holdings LLC Increases Holdings in NetApp, Inc. $NTAP

Chevy Chase Trust Holdings LLC raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,440 shares of the data storage provider’s stock after buying an additional 815 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of NetApp worth $11,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC increased its stake in shares of 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 in the last quarter. 1248 Management LLC purchased a new stake in shares of NetApp in the 1st quarter worth $25,000. Harbour Investments Inc. increased its stake in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of NetApp in the 2nd quarter worth $28,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of NetApp in the 1st quarter worth $29,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Down 0.3%

NTAP opened at $119.07 on Monday. The firm has a 50-day simple moving average of $117.42 and a two-hundred day simple moving average of $104.85. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a market capitalization of $23.77 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

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

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s dividend payout ratio is 36.75%.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,029 shares of company stock valued at $2,444,194 in the last 90 days. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NTAP shares. JPMorgan Chase & Co. raised their price target on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Barclays lifted their target price on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley set a $117.00 target price on NetApp in a research note on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $122.40.

NetApp Company 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.