Allstate Corp Purchases New Position in NetApp, Inc. $NTAP

Allstate Corp purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,788 shares of the data storage provider’s stock, valued at approximately $923,000.

A number of other large investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in shares of NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after acquiring an additional 210 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in NetApp during the 2nd quarter valued at $315,000. Wealth Enhancement Advisory Services LLC raised its holdings in NetApp by 17.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 61,243 shares of the data storage provider’s stock worth $6,569,000 after purchasing an additional 9,293 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in NetApp by 2.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 38,000 shares of the data storage provider’s stock worth $4,049,000 after purchasing an additional 1,002 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of NetApp by 148.8% in the 2nd quarter. UMB Bank n.a. now owns 1,592 shares of the data storage provider’s stock worth $170,000 after purchasing an additional 952 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NTAP shares. Wells Fargo & Company boosted their price target 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. William Blair reiterated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Citigroup decreased their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. UBS Group lifted their price target on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $110.00 price objective on shares of NetApp in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.33.

NetApp Stock Performance

Shares of NTAP opened at $97.09 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. The stock has a market cap of $19.23 billion, a P/E ratio of 16.89, a P/E/G ratio of 2.08 and a beta of 1.38. The business’s 50 day moving average price is $109.42 and its 200-day moving average price is $112.20. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $127.78.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data 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 121.28% and a net margin of 17.73%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $1.87 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. 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 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were paid a $0.52 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. NetApp’s payout ratio is presently 36.17%.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the transaction, the executive vice president directly owned 21,075 shares of the company’s stock, valued at approximately $2,223,201.75. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,654 shares of company stock worth $175,782 over the last three months. 0.28% of the stock is currently owned by insiders.

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.