Zurcher Kantonalbank Zurich Cantonalbank Buys 22,287 Shares of NetApp, Inc. $NTAP

Key Points

• Zurcher Kantonalbank increased its stake in NetApp by 13.1%, buying 22,287 shares to hold 192,721 shares worth about $20,638,000.
• Institutional ownership is high at 92.17%, and several large funds (Pacer, Arrowstreet, AQR, Wellington, Bank of America) recently made sizable purchases, many boosting positions by 70–104%.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,721 shares of the data storage provider's stock after purchasing an additional 22,287 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of NetApp worth $20,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NTAP. Pacer Advisors Inc. lifted its position in NetApp by 103.6% in the third quarter. Pacer Advisors Inc. now owns 1,783,103 shares of the data storage provider's stock worth $211,226,000 after buying an additional 907,233 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in NetApp by 94.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider's stock valued at $215,987,000 after acquiring an additional 886,485 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of NetApp by 71.6% in the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider's stock valued at $219,058,000 after acquiring an additional 771,835 shares during the period. Wellington Management Group LLP raised its stake in shares of NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock valued at $582,296,000 after acquiring an additional 718,409 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of NetApp by 83.0% in the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider's stock worth $164,568,000 after acquiring an additional 700,467 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NTAP. JPMorgan Chase & Co. lowered shares of NetApp from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Wall Street Zen cut shares of NetApp from a "buy" rating to a "hold" rating in a research report on Sunday. Citigroup upped their target price on shares of NetApp from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. The Goldman Sachs Group initiated coverage on shares of NetApp in a research report on Tuesday, January 13th. They set a "buy" rating and a $128.00 target price on the stock. Finally, Wedbush reaffirmed a "neutral" rating and set a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $120.75.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the transaction, the executive vice president owned 19,382 shares in the company, valued at approximately $1,865,517.50. This represents a 4.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,000 shares of company stock worth $300,370 over the last 90 days. 0.28% of the stock is owned by insiders.

NetApp Stock Performance

Shares of NTAP stock opened at $111.80 on Wednesday. NetApp, Inc. has a 12-month low of $81.73 and a 12-month high of $126.66. The business's fifty day simple moving average is $101.23 and its 200-day simple moving average is $107.02. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The company has a market cap of $22.06 billion, a PE ratio of 18.70, a PEG ratio of 3.31 and a beta of 1.30.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter last year, the firm earned $1.91 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Analysts expect that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp's dividend payout ratio (DPR) is 34.78%.

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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