NetApp, Inc. $NTAP Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its NetApp position by 46% in the second quarter, selling 71,801 shares and retaining 84,306 shares valued at approximately $13.2 million. Institutional investors and hedge funds collectively own 92.17% of NetApp.
• NetApp reported quarterly EPS of $2.58 and revenue of $2.02 billion, beating estimates, while revenue increased 29.9% year over year. Management raised its fiscal 2027 adjusted EPS outlook to $9.73–$10.03, supported by hybrid-cloud, public-cloud and AI infrastructure demand.
• Analyst sentiment remains mixed, with NetApp carrying an average “Hold” rating and a $192.07 price target. Insiders sold 55,072 shares worth $8.72 million over the past three months, while the company announced a quarterly dividend of $0.52 per share.

TD Waterhouse Canada Inc. lowered its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 46.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,306 shares of the data storage provider's stock after selling 71,801 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in NetApp were worth $13,185,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC boosted its holdings in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in NetApp during the fourth quarter worth about $30,000. DV Equities LLC acquired a new stake in NetApp in the fourth quarter valued at about $30,000. Roble Belko & Company Inc acquired a new stake in NetApp in the first quarter valued at about $31,000. Finally, Elyxium Wealth LLC purchased a new stake in NetApp in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth O'Callahan sold 1,000 shares of the firm's 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 transaction, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Cesar Cernuda sold 2,608 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $204.48, for a total value of $533,283.84. Following the completion of the transaction, the president owned 46,530 shares of the company's stock, valued at approximately $9,514,454.40. This represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,072 shares of company stock worth $8,719,520 in the last three months. 0.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTAP. Wells Fargo & Company boosted their target price on NetApp from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Thursday. Citigroup decreased their price target on NetApp from $209.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday. Weiss Ratings raised NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Susquehanna raised their target price on NetApp from $185.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Barclays boosted their target price on shares of NetApp from $199.00 to $219.00 and gave the stock an "overweight" rating in a research 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. According to data from MarketBeat.com, NetApp presently has an average rating of "Hold" and an average price target of $192.07.

NetApp Price Performance

NTAP stock opened at $185.59 on Friday. The firm has a 50 day moving average of $178.73 and a 200-day moving average of $140.86. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $209.06. The company has a current ratio of 1.24, a quick ratio of 1.39 and a debt-to-equity ratio of 1.30. The company has a market cap of $36.45 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.52 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.12 by $0.46. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The company's quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, equities analysts expect that NetApp, Inc. will post 7.34 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, October 9th. NetApp's payout ratio is presently 29.34%.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported record fiscal first-quarter results, with revenue rising 29.9% year over year to $2.03 billion and adjusted earnings of $2.58 per share, well above consensus estimates of $1.84 billion and approximately $2.13 per share. NTAP Q1 Earnings Beat Estimates on Hybrid, Public Cloud Revenue Growth
• Positive Sentiment: Management raised its fiscal 2027 adjusted EPS outlook to $9.73-$10.03 and forecast revenue of $7.975-$8.225 billion. Strong hybrid-cloud and public-cloud growth, all-flash storage demand and AI-related infrastructure upgrades are supporting the improved outlook. NetApp FY2027 Forecast and Raised EPS Outlook
• Positive Sentiment: Analysts largely raised their targets following the results. Goldman Sachs maintained a $210 target and TD Cowen reiterated its Buy rating with a $200 target, while Morgan Stanley lifted its target to $191. NetApp also expanded its AWS relationship by enabling storage migrations to Amazon FSx for NetApp ONTAP through AWS Transform.
• Neutral Sentiment: Analyst sentiment remains mixed: Citi downgraded the stock to Neutral with a $190 target, while Wedbush kept a Neutral rating despite raising its target to $170. The target changes suggest limited upside at current levels for some analysts.
• Negative Sentiment: The initial post-earnings selloff reflected a decline in free cash flow and management’s warning that second-quarter gross margin will decrease. Investors appear concerned that strong reported earnings and AI demand may not immediately translate into comparable cash generation.

NetApp 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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