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

Edgestream Partners L.P. acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 54,039 shares of the data storage provider’s stock, valued at approximately $5,758,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Patton Fund Management Inc. acquired a new position in shares of NetApp in the 2nd quarter valued at $265,000. Aurora Investment Counsel acquired a new stake in shares of NetApp during the 2nd quarter valued at about $2,337,000. Citizens Financial Group Inc. RI increased its stake in NetApp by 6.5% in the first quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock valued at $5,311,000 after acquiring an additional 3,704 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in NetApp by 17.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock worth $71,563,000 after purchasing an additional 122,784 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in NetApp by 119.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 3,193 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent research reports. Northland Capmk raised NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. Citigroup decreased their price target on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Wells Fargo & Company upped their price target on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. Oppenheimer reissued a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Finally, Bank of America upped their target price on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the completion of the transaction, the executive vice president owned 22,628 shares in the company, valued at approximately $2,692,732. This represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,183 shares of company stock valued at $1,483,361 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

NetApp Trading Up 3.2%

Shares of NTAP opened at $115.83 on Wednesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company has a market cap of $22.94 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.48 and a beta of 1.46. The stock has a fifty day moving average price of $115.10 and a two-hundred day moving average price of $110.59. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $131.30.

NetApp (NASDAQ:NTAP) last announced its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the company posted $1.87 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

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

NetApp Company Profile

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.