Edgestream Partners L.P. Acquires Shares of 54,039 NetApp, Inc. $NTAP

Edgestream Partners L.P. bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,039 shares of the data storage provider’s stock, valued at approximately $5,758,000.

A number of other large investors also recently made changes to their positions in NTAP. Norges Bank acquired a new stake in shares of NetApp during the second quarter worth $281,093,000. Boston Partners boosted its holdings in NetApp by 108.9% during the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after buying an additional 1,536,339 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NetApp by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after buying an additional 1,024,626 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of NetApp by 1,230.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after acquiring an additional 931,850 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock valued at $2,954,431,000 after acquiring an additional 686,188 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,183 shares of company stock worth $1,483,361. 0.28% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Northland Securities set a $137.00 price objective on shares of NetApp and gave the company an “outperform” rating in a report on Wednesday, November 26th. Citigroup decreased their price target on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Wells Fargo & Company upped their price objective on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. Barclays lifted their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, William Blair reissued a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.07.

NetApp Stock Performance

NTAP opened at $115.83 on Wednesday. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 2.48 and a beta of 1.46. The business’s 50-day moving average price is $115.10 and its two-hundred day moving average price is $110.59. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $131.30. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.NetApp’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. 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 fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s payout ratio is currently 36.17%.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.