NetApp, Inc. $NTAP Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 27.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 414,995 shares of the data storage provider’s stock after purchasing an additional 89,256 shares during the period. Gotham Asset Management LLC’s holdings in NetApp were worth $49,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Focus Partners Wealth increased its holdings in shares of NetApp by 44.7% in the 3rd quarter. Focus Partners Wealth now owns 8,611 shares of the data storage provider’s stock worth $1,020,000 after acquiring an additional 2,659 shares during the period. Brevan Howard Capital Management LP lifted its position in NetApp by 231.8% in the 3rd quarter. Brevan Howard Capital Management LP now owns 8,523 shares of the data storage provider’s stock valued at $1,010,000 after purchasing an additional 5,954 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in NetApp by 1.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 464,936 shares of the data storage provider’s stock valued at $55,076,000 after purchasing an additional 8,860 shares during the period. California Public Employees Retirement System boosted its stake in NetApp by 68.6% during the 3rd quarter. California Public Employees Retirement System now owns 610,735 shares of the data storage provider’s stock valued at $72,348,000 after purchasing an additional 248,404 shares during the period. Finally, Bank of America Corp DE grew its position in NetApp by 11.6% in the 3rd quarter. Bank of America Corp DE now owns 1,723,876 shares of the data storage provider’s stock worth $204,210,000 after purchasing an additional 179,363 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Northland Securities raised its FY2026 and FY2027 EPS forecasts, boosted several quarterly estimates and reiterated a “Strong‑Buy,” lifting the fundamental outlook and supporting buying interest. Northland Research Note (MarketBeat)
• Positive Sentiment: Recent quarterly results and company guidance remain supportive: NetApp beat earnings and revenue expectations in its Feb. 26 report and set FY2026 and Q4 guidance that implies continued cash generation and margin strength. NetApp Earnings & Guidance (MarketBeat)
• Positive Sentiment: NetApp announced a quarterly dividend ($0.52/share, ex‑dividend early April), which supports income investors and signals management confidence in cash flow. Dividend Announcement (MarketBeat)
• Positive Sentiment: Large institutional positions/flows (e.g., Norges Bank stake, Boston Partners, Geode increases) show meaningful investor interest and long‑term conviction from major allocators. Institutional Ownership (MarketBeat)
• Neutral Sentiment: NetApp has underperformed the Nasdaq over the past year — a reminder of valuation/relative‑performance risk even as fundamentals improve. Investors watching relative momentum may remain cautious. Is NetApp Stock Underperforming the Nasdaq?
• Neutral Sentiment: An insider sale: EVP Elizabeth O’Callahan sold 1,000 shares (~$100.7k) on March 10. The transaction is small relative to institutional holdings and management stake, so it’s a monitoring point rather than a clear red flag. Insider Sale Filing (InsiderTrades)

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction 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 transaction, the executive vice president directly owned 20,382 shares in the company, 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. Over the last three months, insiders sold 3,000 shares of company stock worth $309,610. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of several analyst reports. Bank of America raised their price target on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Northland Securities set a $137.00 price objective on NetApp and gave the stock an “outperform” rating in a report on Wednesday, November 26th. The Goldman Sachs Group initiated coverage on NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. Finally, Citigroup boosted their price target on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $122.42.

NetApp Stock Up 1.8%

NTAP stock opened at $98.66 on Monday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $126.66. The company has a market capitalization of $19.47 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.39. The firm’s 50-day moving average is $101.19 and its two-hundred day moving average is $110.58. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

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

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is presently 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.