NetApp, Inc. $NTAP Stake Boosted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its NetApp stake by 20.6% in the first quarter, buying 173,943 additional shares and bringing its holding to about 1.02 million shares valued at roughly $104.3 million.
• NetApp is drawing mostly positive analyst attention, including a Buy rating and $200 price target from Goldman Sachs, while the broader consensus remains Hold with a target price of $169.33.
• The company recently posted Q4 revenue of $1.95 billion, up 12.5% year over year, but EPS of $2.03 missed expectations. NetApp also announced a quarterly dividend of $0.52 per share, payable July 29.

Hsbc Holdings PLC lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 20.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,018,979 shares of the data storage provider's stock after purchasing an additional 173,943 shares during the quarter. Hsbc Holdings PLC owned about 0.52% of NetApp worth $104,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Park Square Financial Group LLC grew its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc bought a new stake in NetApp in the fourth quarter valued at $30,000. DV Equities LLC bought a new stake in NetApp in the fourth quarter valued at $30,000. Roble Belko & Company Inc acquired a new position in shares of NetApp during the first quarter valued at $31,000. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after acquiring an additional 201 shares during the period. Institutional investors own 92.17% of the company's stock.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 49,464 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the completion of the sale, the executive vice president owned 31,297 shares of the company's stock, valued at $5,349,283.24. This trade represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,964 shares of company stock worth $8,181,642 over the last quarter. 0.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Bank of America boosted their target price on shares of NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. The Goldman Sachs Group restated a "buy" rating and issued a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Wall Street Zen lowered shares of NetApp from a "strong-buy" rating to a "buy" rating in a research note on Monday, July 13th. Finally, Citigroup lifted their price target on NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $169.33.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $163.88 on Monday. The stock has a market cap of $32.16 billion, a P/E ratio of 25.77, a P/E/G ratio of 2.99 and a beta of 1.46. The firm's 50-day simple moving average is $153.28 and its 200 day simple moving average is $120.61. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities analysts expect that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. NetApp's dividend payout ratio (DPR) is 32.70%.

About NetApp

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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