NetApp, Inc. $NTAP Stake Boosted by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 40.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,009 shares of the data storage provider’s stock after purchasing an additional 27,532 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in NetApp were worth $11,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in NTAP. 1248 Management LLC bought a new stake in NetApp in the first quarter valued at $25,000. Harbour Investments Inc. increased its holdings in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares during the period. Harbor Asset Planning Inc. bought a new stake in NetApp in the 2nd quarter valued at about $28,000. CVA Family Office LLC lifted its position in NetApp by 300.0% in the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 219 shares during the last quarter. Finally, SouthState Corp boosted its stake in NetApp by 434.5% during the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 239 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.4%

NTAP opened at $110.51 on Monday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market capitalization of $21.89 billion, a PE ratio of 19.22, a P/E/G ratio of 2.44 and a beta of 1.42. The stock’s fifty day moving average is $113.04 and its 200-day moving average is $112.19. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78.

NetApp (NASDAQ:NTAP) last released its earnings results 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. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company earned $1.87 earnings per share. NetApp’s 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. On average, equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 annualized dividend and a yield of 1.9%. NetApp’s dividend payout ratio is currently 36.17%.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of NetApp stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president owned 22,628 shares of the company’s stock, valued at $2,692,732. This trade represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,654 shares of company stock worth $189,292. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTAP. Wells Fargo & Company raised their price target on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Citigroup cut their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Barclays boosted their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Northland Capmk raised NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, Bank of America upped their price objective 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 given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, NetApp currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

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.