Tevis Investment Management Has $385,000 Position in NetApp, Inc. $NTAP

Tevis Investment Management grew its position in NetApp, Inc. (NASDAQ:NTAP) by 9.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,618 shares of the data storage provider’s stock after purchasing an additional 325 shares during the quarter. Tevis Investment Management’s holdings in NetApp were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Spire Wealth Management raised its position in shares of NetApp by 123.5% in the 1st quarter. Spire Wealth Management now owns 3,741 shares of the data storage provider’s stock valued at $329,000 after buying an additional 2,067 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of NetApp by 124.3% during the 1st quarter. Golden State Wealth Management LLC now owns 673 shares of the data storage provider’s stock valued at $59,000 after purchasing an additional 373 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NetApp by 20.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider’s stock valued at $5,247,000 after purchasing an additional 10,080 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of NetApp by 20.6% during the 1st quarter. J.Safra Asset Management Corp now owns 2,880 shares of the data storage provider’s stock valued at $253,000 after purchasing an additional 492 shares during the last quarter. Finally, Cypress Capital LLC bought a new stake in shares of NetApp during the 1st quarter valued at approximately $1,131,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Up 0.5%

NTAP opened at $117.19 on Tuesday. 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 current ratio of 1.31 and a quick ratio of 1.28. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.53 and a beta of 1.45. The company’s 50 day moving average price is $118.51 and its two-hundred day moving average price is $106.43.

NetApp (NASDAQ:NTAP) last posted its earnings results 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). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $1.56 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

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

Insider Activity

In other news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $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 three months, insiders have sold 21,029 shares of company stock valued at $2,444,194. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Bank of America lifted their price target on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Northland Securities increased their target price on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Argus reiterated a “buy” rating and issued a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.40.

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.