DekaBank Deutsche Girozentrale Increases Stake in NetApp, Inc. $NTAP

DekaBank Deutsche Girozentrale lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,351 shares of the data storage provider’s stock after acquiring an additional 3,484 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.18% of NetApp worth $37,377,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NTAP. Forvis Mazars Wealth Advisors LLC purchased a new position in NetApp during the 2nd quarter valued at about $258,000. Chicago Partners Investment Group LLC bought a new position in shares of NetApp during the second quarter valued at approximately $242,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of NetApp during the second quarter valued at approximately $29,237,000. Chevy Chase Trust Holdings LLC increased its holdings in NetApp by 0.8% during the second quarter. Chevy Chase Trust Holdings LLC now owns 107,440 shares of the data storage provider’s stock valued at $11,448,000 after buying an additional 815 shares during the period. Finally, Arista Wealth Management LLC bought a new position in NetApp in the second quarter worth approximately $214,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $110.00 target price on shares of NetApp in a research report on Friday, October 10th. JPMorgan Chase & Co. boosted their price target on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report 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, Citigroup boosted their target price on shares of NetApp from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $122.40.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction on 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 available through this link. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the sale, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,029 shares of company stock worth $2,444,194. 0.28% of the stock is owned by company insiders.

NetApp Trading Up 1.6%

Shares of NetApp stock opened at $119.08 on Wednesday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The firm’s 50 day simple moving average is $117.87 and its two-hundred day simple moving average is $105.23. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.55 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $1.56 EPS. The business’s revenue 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 predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. NetApp’s dividend payout ratio is currently 36.75%.

NetApp 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.