Forum Financial Management LP Makes New $373,000 Investment in NetApp, Inc. $NTAP

Key Points

• Forum Financial Management LP has made a new investment in NetApp, Inc. worth approximately $373,000, acquiring 3,501 shares of the company.
• NetApp reported earnings of $1.19 EPS for the last quarter, missing analysts' expectations by $0.35, while quarterly revenue increased by 1.2% year-over-year.
• The company recently declared a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 1.8%.

Forum Financial Management LP bought a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,501 shares of the data storage provider's stock, valued at approximately $373,000.

Other hedge funds have also modified their holdings of the company. Manchester Capital Management LLC raised its holdings in shares of NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC acquired a new stake in NetApp during the 1st quarter valued at $25,000. Harbour Investments Inc. increased its holdings in NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in NetApp during the 2nd quarter valued at $28,000. Finally, Olde Wealth Management LLC acquired a new stake in NetApp during the 1st quarter valued at $29,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Down 1.0%

NASDAQ NTAP opened at $116.64 on Friday. The stock has a fifty day moving average of $118.34 and a 200-day moving average of $106.08. The stock has a market capitalization of $23.28 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.53 and a beta of 1.45. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $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. On average, equities research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 779 shares of NetApp 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction on Friday, October 10th. The stock was sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president directly owned 22,628 shares of the company's stock, valued at approximately $2,692,732. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,029 shares of company stock valued at $2,444,194 over the last three months. Company insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. William Blair reaffirmed a "market perform" rating on shares of NetApp in a report on Thursday, October 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of NetApp in a report on Saturday. UBS Group raised their price target on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Argus reaffirmed a "buy" rating and set a $130.00 price target on shares of NetApp in a report on Friday, August 29th. Finally, Wedbush reissued a "neutral" rating and issued a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $122.40.

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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