Financiere des Professionnels Fonds d investissement inc. Takes $356,000 Position in NetApp, Inc. $NTAP

Financiere des Professionnels Fonds d investissement inc. purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the first quarter, Holdings Channel.com reports. The firm purchased 3,475 shares of the data storage provider’s stock, valued at approximately $356,000.

Several other hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in NetApp by 4.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,212 shares of the data storage provider’s stock worth $1,042,000 after purchasing an additional 474 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of NetApp during the 1st quarter valued at $16,306,000. Wealthfront Advisers LLC lifted its holdings in shares of NetApp by 25.9% during the 1st quarter. Wealthfront Advisers LLC now owns 33,611 shares of the data storage provider’s stock valued at $3,441,000 after buying an additional 6,914 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of NetApp in the 1st quarter worth $246,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of NetApp by 18.2% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 132,741 shares of the data storage provider’s stock worth $13,590,000 after acquiring an additional 20,400 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp News Summary

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

Analysts Set New Price Targets

NTAP has been the subject of a number of research reports. Barclays upped their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Susquehanna boosted their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Bank of America upped their price target on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. 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’s stock. According to data from MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus target price of $169.33.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,964 shares of company stock valued at $8,181,642 over the last three months. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $163.88 on Friday. The stock has a 50-day simple moving average of $153.28 and a two-hundred day simple moving average of $120.54. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The firm has a market capitalization of $32.11 billion, a PE ratio of 25.77, a P/E/G ratio of 2.92 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business earned $1.93 EPS. The firm’s quarterly revenue 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. Analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

NetApp Company 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.