Cwm LLC Grows Position in NetApp, Inc. $NTAP

Key Points

• Cwm LLC increased its holdings in NetApp, Inc. by 170.8% during Q2, owning a total of 26,977 shares valued at approximately $2.87 million.
• Analysts have set new price targets for NetApp, with JPMorgan Chase & Co. raising their target from $115.00 to $130.00, reflecting a positive outlook.
• NetApp declared a $0.52 quarterly dividend for stockholders, representing an annualized dividend of $2.08 and a dividend yield of 1.7%.

Cwm LLC boosted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 170.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,977 shares of the data storage provider's stock after purchasing an additional 17,014 shares during the quarter. Cwm LLC's holdings in NetApp were worth $2,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Manchester Capital Management LLC boosted its holdings in shares of NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC purchased a new stake in shares of NetApp during the first quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new stake in shares of NetApp during the first quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. raised its position in NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock worth $31,000 after acquiring an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in NetApp in the first quarter worth $36,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NTAP. Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. Northland Securities raised their price target on NetApp from $119.00 to $120.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. William Blair reissued a "market perform" rating on shares of NetApp in a research note on Thursday. Bank of America lifted their price objective on NetApp from $121.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $122.40.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 779 shares of the business's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,750 shares of the company's 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 transaction, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,529 shares of company stock worth $3,362,874 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $119.07 on Friday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $23.77 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.45. The business has a 50 day simple moving average of $117.42 and a 200-day simple moving average of $104.59.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. NetApp's quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current 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 issued a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. 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.

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