Caprock Group LLC Acquires Shares of 11,118 NetApp, Inc. $NTAP

Caprock Group LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,118 shares of the data storage provider’s stock, valued at approximately $1,254,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after buying an additional 686,188 shares during the period. Geode Capital Management LLC lifted its stake in NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after acquiring an additional 1,024,626 shares during the period. Boston Partners boosted its holdings in NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after acquiring an additional 1,536,339 shares in the last quarter. Norges Bank purchased a new position in NetApp during the 2nd quarter valued at $281,093,000. Finally, Amundi raised its holdings in NetApp by 8.4% in the 2nd quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock worth $237,269,000 after purchasing an additional 182,318 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of research reports. UBS Group lifted their target price on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group began coverage on NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. Barclays increased their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Oppenheimer restated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company increased their price objective on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.93.

NetApp Stock Performance

Shares of NTAP stock opened at $102.42 on Friday. The company has a market capitalization of $20.29 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.25 and a beta of 1.38. 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, Inc. has a one year low of $71.84 and a one year high of $127.78. The company’s 50-day moving average is $105.94 and its 200 day moving average is $111.52.

NetApp (NASDAQ:NTAP) last issued its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm posted $1.87 earnings per share. The business’s revenue 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. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. NetApp’s dividend payout ratio (DPR) is 36.17%.

Insider Transactions 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 shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the sale, the executive vice president owned 20,075 shares in the company, valued at $2,076,758.75. This represents a 4.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,654 shares of company stock valued at $279,232. 0.28% of the stock is 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.