Banque Cantonale Vaudoise Increases Position in NetApp, Inc. $NTAP

Banque Cantonale Vaudoise boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 40.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,351 shares of the data storage provider’s stock after purchasing an additional 6,955 shares during the quarter. Banque Cantonale Vaudoise’s holdings in NetApp were worth $2,885,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of NetApp by 4.9% in the third quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after purchasing an additional 20,089 shares during the period. Citigroup Inc. raised its position in shares of NetApp by 216.1% during the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after purchasing an additional 634,085 shares during the last quarter. National Pension Service lifted its stake in NetApp by 26.0% in the 3rd quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after buying an additional 32,833 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in NetApp by 3.8% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock valued at $192,938,000 after buying an additional 66,045 shares in the last quarter. Finally, J. Safra Sarasin Holding AG boosted its holdings in NetApp by 496.7% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock worth $2,152,000 after buying an additional 15,123 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research analyst reports. Barclays increased their target price on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Northland Securities set a $137.00 price target on NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Citigroup increased their price objective on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.42.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total value of $103,450.00. Following the transaction, the executive vice president directly owned 20,075 shares in the company, valued at $2,076,758.75. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.28% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $96.91 on Wednesday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $126.66. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The firm has a market capitalization of $19.12 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 3.12 and a beta of 1.39. The business has a 50 day simple moving average of $101.74 and a 200-day simple moving average of $110.85.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. NetApp’s dividend payout ratio is currently 34.78%.

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.