NetApp, Inc. $NTAP Position Lifted by Harfst & Associates Inc.

Harfst & Associates Inc. grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 127.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,453 shares of the data storage provider’s stock after acquiring an additional 9,219 shares during the period. Harfst & Associates Inc.’s holdings in NetApp were worth $1,753,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Patton Fund Management Inc. bought a new position in NetApp during the 2nd quarter worth approximately $265,000. Aurora Investment Counsel acquired a new stake in shares of NetApp during the 2nd quarter valued at approximately $2,337,000. Citizens Financial Group Inc. RI lifted its stake in NetApp by 6.5% during the first quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock worth $5,311,000 after purchasing an additional 3,704 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in NetApp by 17.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock worth $71,563,000 after purchasing an additional 122,784 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of NetApp by 119.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 3,193 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 2.0%

Shares of NetApp stock opened at $109.25 on Thursday. The business has a fifty day simple moving average of $116.11 and a 200-day simple moving average of $110.16. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $131.30. 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 issued its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.16. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company earned $1.87 EPS. NetApp’s revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. On average, equities analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $119.00, for a total value of $119,000.00. Following the completion of the sale, the executive vice president directly owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. This represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,183 shares of company stock worth $1,483,361. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NTAP shares. UBS Group upped their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday. Barclays boosted their price objective on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America increased their price objective on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, William Blair reaffirmed a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, NetApp has an average rating of “Moderate Buy” and an average target price of $124.07.

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.