M&T Bank Corp Increases Stock Position in NetApp, Inc. $NTAP

Key Points

• M&T Bank Corp boosted its stake in NetApp by 529.2% in Q4, adding 48,219 shares to hold 57,330 shares valued at about $6.14 million, while institutional investors collectively own 92.17% of the company.
• Analysts are mostly cautious — NetApp's consensus rating is Hold with an average price target of $120.75, following notable moves such as JPMorgan lowering its rating to neutral and Goldman Sachs initiating coverage with a buy and $128 target.
• Fundamentals show a modest beat: NetApp reported EPS of $2.12 vs. $2.07 expected and $1.71B in revenue (up 4.4% y/y), provided FY2026 EPS guidance of 7.92–8.02, and pays a $0.52 quarterly dividend (≈1.9% yield).

M&T Bank Corp increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 529.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,330 shares of the data storage provider's stock after purchasing an additional 48,219 shares during the period. M&T Bank Corp's holdings in NetApp were worth $6,139,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NTAP. Geneos Wealth Management Inc. raised its position in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock worth $67,000 after acquiring an additional 210 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in NetApp during the second quarter valued at about $315,000. Cerity Partners LLC grew its stake in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock valued at $4,986,000 after purchasing an additional 4,232 shares during the last quarter. Bank of Nova Scotia raised its holdings in NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock worth $2,589,000 after purchasing an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after buying an additional 2,277 shares during the last quarter. Institutional investors own 92.17% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of NetApp from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $110.00 in a report on Thursday, April 16th. Wedbush reissued a "neutral" rating and set a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research note on Sunday, April 19th. Citigroup lifted their price target on shares of NetApp from $110.00 to $114.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Finally, The Goldman Sachs Group started coverage on NetApp in a report on Tuesday, January 13th. They set a "buy" rating and a $128.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, NetApp has an average rating of "Hold" and an average price target of $120.75.

NetApp Stock Up 0.3%

NetApp stock opened at $108.71 on Friday. NetApp, Inc. has a 52 week low of $86.70 and a 52 week high of $126.66. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 3.36 and a beta of 1.30. The business's 50-day moving average price is $101.66 and its 200 day moving average price is $106.90. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same period last year, the firm earned $1.91 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, sell-side analysts anticipate that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp's dividend payout ratio is currently 34.78%.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $96.25, for a total transaction of $96,250.00. Following the transaction, the executive vice president owned 19,382 shares in the company, valued at approximately $1,865,517.50. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $300,370. Company insiders own 0.28% of the company's stock.

NetApp Company Profile

NetApp, Inc NASDAQ: NTAP is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp's offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company's product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.

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