Wealthfront Advisers LLC Has $3.44 Million Stock Position in NetApp, Inc. $NTAP

Wealthfront Advisers LLC increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 33,611 shares of the data storage provider’s stock after acquiring an additional 6,914 shares during the period. Wealthfront Advisers LLC’s holdings in NetApp were worth $3,441,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of NetApp during the 4th quarter worth approximately $458,060,000. SG Americas Securities LLC boosted its holdings in shares of NetApp by 378.9% in the 1st quarter. SG Americas Securities LLC now owns 1,329,475 shares of the data storage provider’s stock valued at $136,125,000 after buying an additional 1,051,863 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of NetApp by 94.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after buying an additional 886,485 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of NetApp by 71.6% in the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock valued at $219,058,000 after buying an additional 771,835 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after buying an additional 718,409 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTAP. Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wedbush lifted their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wall Street Zen downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 13th. Finally, UBS Group reiterated a “neutral” rating and set a $160.00 price target on shares of NetApp in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $169.33.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

NetApp Stock Performance

Shares of NetApp stock opened at $163.88 on Monday. The business has a fifty day simple moving average of $153.28 and a two-hundred day simple moving average of $120.61. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The company has a market capitalization of $32.16 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 2.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm earned $1.93 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. NetApp’s payout ratio is presently 32.70%.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 52,964 shares of company stock valued at $8,181,642. Company 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.