Abacus FCF Advisors LLC Invests $16.13 Million in NetApp, Inc. $NTAP

Abacus FCF Advisors LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 136,132 shares of the data storage provider’s stock, valued at approximately $16,126,000. NetApp comprises 2.1% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Abacus FCF Advisors LLC owned 0.07% of NetApp at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its holdings in NetApp by 19.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 231,622 shares of the data storage provider’s stock valued at $20,346,000 after purchasing an additional 37,356 shares in the last quarter. Caption Management LLC bought a new stake in shares of NetApp during the first quarter worth $176,000. Royal Bank of Canada increased its stake in shares of NetApp by 1.8% in the first quarter. Royal Bank of Canada now owns 1,433,513 shares of the data storage provider’s stock valued at $125,921,000 after buying an additional 24,797 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in shares of NetApp by 27.9% in the first quarter. Focus Partners Advisor Solutions LLC now owns 2,766 shares of the data storage provider’s stock valued at $243,000 after buying an additional 603 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in NetApp by 24.6% during the 1st quarter. Maverick Capital Ltd. now owns 22,923 shares of the data storage provider’s stock worth $2,014,000 after buying an additional 4,525 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the transaction, the executive vice president directly owned 22,628 shares in the company, valued at approximately $2,692,732. The trade was a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,654 shares of company stock valued at $189,292 over the last quarter. 0.28% of the stock is owned by insiders.

NetApp Trading Down 1.0%

NTAP opened at $109.40 on Tuesday. The firm’s fifty day moving average is $112.88 and its two-hundred day moving average is $112.24. The firm has a market cap of $21.67 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.44 and a beta of 1.42. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $127.78. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. 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 research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, January 2nd. NetApp’s payout ratio is 36.17%.

Analysts Set New Price Targets

NTAP has been the subject of several research reports. Wells Fargo & Company raised 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. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. William Blair reissued a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Finally, Citigroup cut 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

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.