NetApp, Inc. $NTAP Shares Bought by Rehmann Capital Advisory Group

Key Points

• Rehmann Capital Advisory Group increased its holdings in NetApp, Inc. by 37.3%, acquiring an additional 2,386 shares, bringing its total to 8,778 shares valued at $935,000.
• Analysts have set a consensus rating of "Hold" for NetApp with an average target price of $122.40, following various adjustments to their price targets by firms such as Citigroup and Bank of America.
• NetApp announced a quarterly dividend of $0.52 per share, reflecting a 1.8% yield, and has a payout ratio of 36.75% for the current fiscal period.

Rehmann Capital Advisory Group lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 37.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,778 shares of the data storage provider's stock after acquiring an additional 2,386 shares during the period. Rehmann Capital Advisory Group's holdings in NetApp were worth $935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider's stock worth $2,375,363,000 after acquiring an additional 597,956 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of NetApp by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider's stock worth $623,383,000 after acquiring an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NetApp by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock worth $311,529,000 after acquiring an additional 560,218 shares in the last quarter. Invesco Ltd. raised its position in shares of NetApp by 12.3% during the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider's stock worth $308,107,000 after acquiring an additional 384,362 shares in the last quarter. Finally, Amundi raised its position in shares of NetApp by 11.8% during the 1st quarter. Amundi now owns 2,179,710 shares of the data storage provider's stock worth $183,209,000 after acquiring an additional 230,793 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. William Blair reissued a "market perform" rating on shares of NetApp in a research report on Thursday, October 16th. Citigroup lifted their price target on NetApp from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, October 16th. UBS Group lifted their price target on NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Bank of America lifted their price target on NetApp from $121.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Finally, Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $122.40.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares of the company's stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $94,936.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,029 shares of company stock valued at $2,444,194. 0.28% of the stock is owned by insiders.

NetApp Trading Down 1.9%

Shares of NTAP stock opened at $116.76 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a market capitalization of $23.31 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.59 and a beta of 1.45. The business's 50 day moving average is $118.02 and its two-hundred day moving average is $105.31.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly 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). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

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

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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