Simon Quick Advisors LLC Takes $256,000 Position in NetApp, Inc. $NTAP

Simon Quick Advisors LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,405 shares of the data storage provider’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in NetApp by 4,687.6% in the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock valued at $93,874,000 after buying an additional 1,046,372 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in NetApp by 1,230.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after buying an additional 931,850 shares during the last quarter. Vanguard Group Inc. lifted its position in NetApp by 2.3% in the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after buying an additional 597,956 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NetApp by 18.8% in the first 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 valued at $311,529,000 after buying an additional 560,218 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in NetApp by 97.7% in the first quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock valued at $96,293,000 after buying an additional 541,837 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTAP. Northland Securities increased their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. UBS Group increased their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. William Blair reissued a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Argus reaffirmed a “buy” rating and issued a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Finally, Bank of America raised their target price on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $122.40.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 779 shares of NetApp 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of NetApp 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 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. The SEC filing for this sale provides additional information. Insiders have sold 21,029 shares of company stock valued at $2,444,194 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

NetApp Stock Down 0.7%

NTAP stock opened at $116.94 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company’s 50 day moving average is $119.18 and its two-hundred day moving average is $107.79. The stock has a market cap of $23.34 billion, a P/E ratio of 20.66, a PEG ratio of 2.48 and a beta of 1.45.

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). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $1.56 EPS. The firm’s revenue for the quarter 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. Research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were issued 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 payout ratio is presently 36.75%.

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.