4,734 Shares in NetApp, Inc. $NTAP Acquired by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC acquired 4,734 shares of NetApp, valued at approximately $504,000, during the second quarter.
• NetApp reported quarterly earnings of $1.19 EPS, missing the consensus estimate of $1.54 by $0.35, but had revenue that surpassed expectations at $1.56 billion.
• The company announced a dividend of $0.52 per share, representing a 1.7% dividend yield, with payment scheduled for October 22nd.

NorthRock Partners LLC bought a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,734 shares of the data storage provider's stock, valued at approximately $504,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTAP. Farther Finance Advisors LLC boosted its holdings in NetApp by 62.8% in the first quarter. Farther Finance Advisors LLC now owns 1,141 shares of the data storage provider's stock worth $102,000 after purchasing an additional 440 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in NetApp by 6.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,950 shares of the data storage provider's stock worth $4,563,000 after purchasing an additional 3,196 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in NetApp by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 2,311 shares of the data storage provider's stock worth $203,000 after purchasing an additional 261 shares during the last quarter. Mission Wealth Management LP boosted its holdings in NetApp by 17.8% in the first quarter. Mission Wealth Management LP now owns 4,352 shares of the data storage provider's stock worth $382,000 after purchasing an additional 658 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in NetApp by 73.9% in the first quarter. QRG Capital Management Inc. now owns 91,685 shares of the data storage provider's stock worth $8,054,000 after purchasing an additional 38,961 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Up 0.8%

Shares of NTAP stock opened at $121.47 on Thursday. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.62 and a beta of 1.45. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company's fifty day moving average price is $116.85 and its 200-day moving average price is $104.16. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is presently 36.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NTAP shares. Morgan Stanley set a $117.00 target price on shares of NetApp in a report on Thursday, August 28th. Barclays increased their price target on shares of NetApp from $117.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Citigroup increased their price target on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Argus reiterated a "buy" rating and issued a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. Finally, Wedbush reiterated a "neutral" rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $121.40.

Insider Activity

In other NetApp news, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the sale, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction 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 sale, the executive vice president owned 22,628 shares in the company, valued at approximately $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,529 shares of company stock worth $3,362,874 in the last three months. Company insiders own 0.28% of the company's stock.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.

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