Callan Family Office LLC Buys 6,903 Shares of NetApp, Inc. $NTAP

Key Points

• Callan Family Office LLC increased its stake in NetApp, Inc. by 255.9% in the 2nd quarter, acquiring 6,903 shares to reach a total of 9,601 shares worth $1,023,000.
• Several institutional investors have made significant adjustments to their holdings in NetApp, contributing to institutional ownership of 92.17% of the stock.
• Analysts have raised price targets for NetApp shares, with Barclays and Bank of America both setting new targets at $125.00, indicating a generally positive outlook on the stock.

Callan Family Office LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 255.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,601 shares of the data storage provider's stock after acquiring an additional 6,903 shares during the quarter. Callan Family Office LLC's holdings in NetApp were worth $1,023,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NTAP. Pacer Advisors Inc. lifted its position in NetApp by 4,687.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider's stock valued at $93,874,000 after acquiring an additional 1,046,372 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider's stock worth $107,359,000 after buying an additional 931,850 shares in the last quarter. Vanguard Group Inc. lifted its position in NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider's stock worth $2,375,363,000 after buying an additional 597,956 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NetApp by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock worth $311,529,000 after buying an additional 560,218 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in NetApp by 97.7% during the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider's stock worth $96,293,000 after buying an additional 541,837 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the company's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,750 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,529 shares of company stock worth $3,243,874. Insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

NTAP has been the topic of several analyst reports. Barclays boosted 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. Bank of America boosted their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Citigroup boosted 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. UBS Group boosted their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $121.40.

NetApp Stock Down 5.3%

NetApp stock opened at $113.94 on Monday. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a market capitalization of $22.74 billion, a PE ratio of 20.13, a P/E/G ratio of 2.48 and a beta of 1.45. The company's 50-day moving average is $115.80 and its 200-day moving average is $103.72. 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 results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company posted $1.56 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. 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 anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp's dividend payout ratio is 36.75%.

NetApp Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.