Robinhood Asset Management LLC Takes $4.59 Million Position in NetApp, Inc. $NTAP

Robinhood Asset Management LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 42,840 shares of the data storage provider’s stock, valued at approximately $4,588,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rossby Financial LCC lifted its holdings in shares of NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of NetApp in the third quarter worth $27,000. Measured Wealth Private Client Group LLC purchased a new stake in NetApp during the third quarter valued at $35,000. JFS Wealth Advisors LLC grew its stake in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the period. Finally, Covestor Ltd increased its position in shares of NetApp by 48.0% during the 3rd quarter. Covestor Ltd now owns 478 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTAP shares. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. The Goldman Sachs Group began coverage on NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price on the stock. Finally, Citigroup lifted their target price on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.42.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total transaction of $100,670.00. Following the sale, the executive vice president owned 20,382 shares of the company’s stock, valued at approximately $2,051,855.94. This trade represents a 4.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 3,000 shares of company stock worth $309,610 in the last three months. Company insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NTAP opened at $100.90 on Tuesday. The company has a 50 day simple moving average of $100.96 and a two-hundred day simple moving average of $108.56. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The firm has a market cap of $19.91 billion, a P/E ratio of 16.87, a PEG ratio of 3.20 and a beta of 1.30. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $126.66.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. NetApp’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. NetApp’s dividend payout ratio is 34.78%.

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.