Chicago Partners Investment Group LLC Invests $242,000 in NetApp, Inc. $NTAP

Chicago Partners Investment Group LLC acquired a new position in NetApp, Inc. (NASDAQ:NTAP) in the second quarter, Holdings Channel.com reports. The fund acquired 2,282 shares of the data storage provider’s stock, valued at approximately $242,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of NetApp by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after purchasing an additional 597,956 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of NetApp by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after purchasing an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after purchasing an additional 560,218 shares in the last quarter. Invesco Ltd. boosted its position in shares of NetApp by 12.3% in the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock worth $308,107,000 after purchasing an additional 384,362 shares in the last quarter. Finally, Amundi boosted its position in shares of NetApp by 11.8% in the 1st quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock worth $183,209,000 after purchasing an additional 230,793 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $116.64 on Friday. The stock has a 50-day simple moving average of $118.34 and a two-hundred day simple moving average of $105.87. The firm has a market capitalization of $23.28 billion, a P/E ratio of 20.61, a PEG ratio of 2.56 and a beta of 1.45. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

NetApp (NASDAQ:NTAP) last released 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 company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. On average, equities analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the transaction, the executive vice president owned 23,628 shares in the company, valued at $2,922,074.76. The trade was a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction dated 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 transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders sold a total of 21,029 shares of company stock worth $2,444,194 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley set a $117.00 target price on NetApp in a research note on Thursday, August 28th. Barclays raised their target price on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. UBS Group raised their target price on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Wedbush restated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.