NEOS Investment Management LLC Raises Holdings in NetApp, Inc. $NTAP

NEOS Investment Management LLC increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 49.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 25,369 shares of the data storage provider’s stock after buying an additional 8,406 shares during the quarter. NEOS Investment Management LLC’s holdings in NetApp were worth $3,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NTAP. Rothschild Investment LLC boosted its holdings in shares of NetApp by 5.2% during the 3rd quarter. Rothschild Investment LLC now owns 5,501 shares of the data storage provider’s stock valued at $652,000 after acquiring an additional 271 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of NetApp by 10.7% during the third quarter. Merit Financial Group LLC now owns 26,286 shares of the data storage provider’s stock valued at $3,114,000 after purchasing an additional 2,543 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in NetApp by 0.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 868,413 shares of the data storage provider’s stock valued at $102,851,000 after purchasing an additional 7,218 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in NetApp by 1.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 67,239 shares of the data storage provider’s stock worth $7,965,000 after purchasing an additional 1,166 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in NetApp by 10.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 38,531 shares of the data storage provider’s stock worth $4,564,000 after purchasing an additional 3,529 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NetApp stock opened at $101.60 on Friday. The stock has a 50 day moving average price of $104.61 and a 200-day moving average price of $111.42. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78. The stock has a market cap of $20.12 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.23 and a beta of 1.38. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the firm earned $1.87 earnings per share. NetApp’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Equities analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s payout ratio is currently 36.17%.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research reports. UBS Group upped their price objective on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Bank of America upped their price target on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Barclays raised their price objective on shares of NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Wells Fargo & Company upped their target price on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group started coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.86.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total value of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company’s stock.

NetApp Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.