NetApp, Inc. $NTAP Shares Bought by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International increased its NetApp stake by 24.2% in the second quarter, bringing its holdings to 43,833 shares valued at approximately $6.8 million. Institutional investors and hedge funds collectively own 92.17% of NTAP.
• NetApp reported strong fiscal first-quarter results, with revenue up nearly 30% year over year to about $2.02 billion and adjusted EPS of $2.58, beating analyst expectations. The company also raised its fiscal 2027 outlook, citing sustained demand for AI infrastructure, all-flash storage and hybrid-cloud services.
• Despite positive earnings and analyst target increases, shares face concerns including declining operating and free cash flow, higher inventory and expected gross-margin pressure. NetApp insiders sold 55,072 shares worth about $8.7 million over the past 90 days, while the stock traded near $185.38 with an average analyst price target of $192.07.

Raiffeisen Bank International AG raised its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 24.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,833 shares of the data storage provider's stock after purchasing an additional 8,542 shares during the period. Raiffeisen Bank International AG's holdings in NetApp were worth $6,797,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTAP. denkapparat Operations GmbH raised its position in shares of NetApp by 31.9% during the 2nd quarter. denkapparat Operations GmbH now owns 5,130 shares of the data storage provider's stock worth $794,000 after purchasing an additional 1,240 shares during the last quarter. NEOS Investment Management LLC grew its holdings in NetApp by 5.0% during the 2nd quarter. NEOS Investment Management LLC now owns 32,187 shares of the data storage provider's stock valued at $4,981,000 after buying an additional 1,530 shares during the last quarter. Retireful LLC purchased a new position in NetApp during the second quarter worth $1,288,000. Nykredit A S purchased a new position in NetApp during the second quarter worth $10,582,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of NetApp by 12.9% in the second quarter. Rehmann Capital Advisory Group now owns 13,957 shares of the data storage provider's stock worth $2,160,000 after acquiring an additional 1,592 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q1 revenue of approximately $2.03 billion, up 30% year over year, while adjusted EPS of $2.58 exceeded the roughly $2.12 analyst consensus. All-flash array revenue rose 47% to $1.31 billion, and public-cloud revenue increased 28%, underscoring strong demand tied to AI infrastructure, data modernization and hybrid cloud adoption. NTAP Q1 Earnings and Revenues Top Estimates on AI and All-Flash Strength
• Positive Sentiment: The company raised its fiscal 2027 forecast to approximately $7.98 billion-$8.23 billion in revenue and $9.73-$10.03 in adjusted EPS, well above prior Wall Street expectations. Second-quarter guidance also topped consensus, supporting the view that AI-led infrastructure spending is becoming durable. NetApp Forecasts Fiscal 2027 Revenue and Raises EPS Outlook
• Positive Sentiment: Analyst sentiment remains broadly constructive following the report. TD Cowen reaffirmed its Buy rating with a $200 target, while Goldman Sachs maintained its Buy rating and a $210 target; Morgan Stanley, Susquehanna and other firms also raised targets. NetApp Analysts Boost Their Forecasts After Strong Q1 Earnings
• Neutral Sentiment: NetApp announced a quarterly dividend of $0.52 per share, payable October 28 to shareholders of record October 9, providing continued income support for investors. NetApp Declares a $0.52 Dividend
• Negative Sentiment: The initial reaction was negative because operating cash flow and free cash flow declined year over year, inventory increased, and management warned that second-quarter gross margin would fall sequentially amid component costs and product-mix pressure. With expectations elevated after a significant rally, investors viewed the results as a mixed bag despite the earnings beat. NetApp Beats Estimates but Tumbles on Free Cash Flow Decline

Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares of the company's stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth O'Callahan sold 1,000 shares of NetApp stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. This trade represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,072 shares of company stock valued at $8,719,520 in the last ninety days. 0.36% of the stock is currently owned by company insiders.

NetApp Stock Performance

NASDAQ NTAP opened at $185.38 on Friday. The business's 50-day moving average price is $178.07 and its 200 day moving average price is $140.54. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The company has a market capitalization of $36.38 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.12 by $0.46. NetApp had a return on equity of 127.57% and a net margin of 19.18%.The company had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The firm's revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, research analysts predict that NetApp, Inc. will post 7.34 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 1.1%. NetApp's dividend payout ratio is 32.70%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NTAP shares. Wells Fargo & Company upped their price objective on NetApp from $180.00 to $190.00 and gave the company an "equal weight" rating in a research report on Thursday. Argus boosted their target price on shares of NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Susquehanna upped their target price on shares of NetApp from $185.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday. Wall Street Zen cut shares of NetApp from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 29th. Finally, Barclays lifted their price target on shares of NetApp from $199.00 to $219.00 and gave the stock an "overweight" rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $192.07.

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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