NetApp, Inc. $NTAP Shares Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its NetApp position by 179.8% in the second quarter, acquiring 12,650 additional shares and bringing its holdings to 19,686 shares valued at approximately $3.05 million.
• NetApp reported strong quarterly results, with EPS of $2.58 versus the $2.12 consensus and revenue of about $2.02 billion versus the $1.84 billion estimate; revenue grew nearly 30% year over year.
• Investor sentiment remains mixed: the stock carries a consensus “Hold” rating with an average price target of $193.86, while NetApp pays a quarterly dividend of $0.52, or a 1.0% annualized yield.

Engineers Gate Manager LP increased its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 179.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,686 shares of the data storage provider's stock after acquiring an additional 12,650 shares during the period. Engineers Gate Manager LP's holdings in NetApp were worth $3,047,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NTAP. Park Square Financial Group LLC boosted its position in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after purchasing an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the fourth quarter valued at $30,000. DV Equities LLC purchased a new position in shares of NetApp in the fourth quarter valued at $30,000. Roble Belko & Company Inc acquired a new position in shares of NetApp during the 1st quarter worth $31,000. Finally, Elyxium Wealth LLC acquired a new position in shares of NetApp during the 4th quarter worth $35,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Key NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Zacks upgraded NetApp to “Strong Buy” from “Hold,” adding to the stock’s positive momentum and likely providing a near-term catalyst for investors.
• Positive Sentiment: NetApp’s inclusion on Zacks’ list of top momentum stocks reinforces the view that its recent operating performance and share-price trend remain favorable. Best Momentum Stock to Buy for September 10th
• Positive Sentiment: Northland Securities raised its FY2027 EPS forecast to $8.14 from $7.11 and its FY2028 forecast to $9.15 from $7.85. It also increased estimates for several quarterly periods while maintaining an “Outperform” rating, signaling stronger expectations for demand and profitability.
• Positive Sentiment: Recent results showed substantial earnings and revenue strength: NetApp reported quarterly EPS of $2.58 versus the $2.12 consensus estimate, while revenue of $2.03 billion exceeded the $1.84 billion forecast and grew nearly 30% year over year. The company also raised its product and earnings outlook, supporting optimism around its storage and data-management strategy.
• Positive Sentiment: Shareholders approved NetApp’s governance changes and re-elected the company’s director nominees, including CEO George Kurian. The result removes a potential governance overhang and maintains leadership continuity. NetApp Shareholders Approve Governance Changes and Board Slate
• Neutral Sentiment: Analysts are comparing NetApp with Super Micro Computer as a value investment, but the article does not represent a specific change in NetApp’s outlook. SMCI or NTAP: Which Is the Better Value Stock Right Now?
• Negative Sentiment: Northland’s $187 price target remains below NetApp’s recent trading level, suggesting that at least one analyst sees limited near-term upside despite raising earnings estimates.

NetApp Price Performance

NASDAQ:NTAP opened at $199.28 on Monday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $209.06. The firm has a market cap of $39.14 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.44. The company's 50-day moving average is $182.09 and its two-hundred day moving average is $144.20. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company's quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Research analysts expect that NetApp, Inc. will post 8.32 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 1.0%. NetApp's payout ratio is 29.34%.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth O'Callahan sold 1,000 shares of NetApp stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares of the company's stock, valued at $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares of the company's stock, valued at $7,246,504.92. The trade was a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,072 shares of company stock valued at $8,556,040 over the last quarter. 0.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NTAP. Wedbush boosted their price objective on shares of NetApp from $150.00 to $170.00 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Argus set a $225.00 target price on shares of NetApp in a research report on Friday. UBS Group upped their price target on shares of NetApp from $160.00 to $171.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Finally, Susquehanna increased their price target on shares of NetApp from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, NetApp has an average rating of "Hold" and an average target price of $193.86.

NetApp Company Profile

NetApp, Inc NASDAQ: NTAP is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company's portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.

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