Morningstar Investment Management LLC Buys Shares of 3,042 NetApp, Inc. $NTAP

Key Points

• Morningstar Investment Management LLC recently acquired 3,042 shares of NetApp, Inc. (NASDAQ:NTAP) valued at approximately $324,000 in the second quarter.
• NetApp's shares have seen increased interest from institutional investors, with 92.17% of the company's stock owned by them.
• The company declared a quarterly dividend of $0.52 per share, reflecting an annual yield of 1.7%, set to be paid on October 22nd.

Morningstar Investment Management LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,042 shares of the data storage provider's stock, valued at approximately $324,000.

Several other large investors have also recently bought and sold shares of the company. Horizon Investments LLC raised its position in NetApp by 3.8% in the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider's stock valued at $255,000 after purchasing an additional 107 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in NetApp by 11.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider's stock valued at $115,000 after purchasing an additional 107 shares during the last quarter. 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 valued at $31,000 after purchasing an additional 124 shares during the last quarter. Hohimer Wealth Management LLC raised its position in shares of NetApp by 0.4% during the first quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider's stock worth $2,608,000 after acquiring an additional 131 shares during the last quarter. Finally, EWA LLC raised its position in shares of NetApp by 5.4% during the second quarter. EWA LLC now owns 2,535 shares of the data storage provider's stock worth $270,000 after acquiring an additional 131 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NTAP shares. UBS Group raised their price objective on NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Citigroup raised their price objective on NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Weiss Ratings restated a "hold (c+)" rating on shares of NetApp in a research report on Wednesday, October 8th. Morgan Stanley set a $117.00 price objective on NetApp in a research report on Thursday, August 28th. Finally, Argus restated a "buy" rating and set a $130.00 price objective on shares of NetApp in a research report on Friday, August 29th. Seven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $121.40.

NetApp Trading Up 1.4%

Shares of NTAP stock opened at $120.55 on Wednesday. The company has a market cap of $24.06 billion, a P/E ratio of 21.30, a PEG ratio of 2.58 and a beta of 1.45. The stock has a 50 day simple moving average of $116.49 and a two-hundred day simple moving average of $104.04. 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, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.54 by ($0.35). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. Research analysts forecast 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. Shareholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is 36.75%.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the completion of the sale, the executive vice president directly owned 22,628 shares of the company's stock, valued at $2,692,732. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,529 shares of company stock valued at $3,362,874. 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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