NetApp, Inc. $NTAP Stake Boosted by TD Asset Management Inc

TD Asset Management Inc grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,819,299 shares of the data storage provider’s stock after acquiring an additional 42,554 shares during the period. TD Asset Management Inc’s holdings in NetApp were worth $193,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Horizon Investments LLC grew its holdings in shares of NetApp by 3.8% during the 1st quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock valued at $255,000 after acquiring an additional 107 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of NetApp by 11.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock valued at $115,000 after acquiring an additional 107 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in NetApp by 0.4% in the first quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider’s stock worth $2,608,000 after purchasing an additional 131 shares in the last quarter. Finally, EWA LLC boosted its holdings in NetApp by 5.4% in the second quarter. EWA LLC now owns 2,535 shares of the data storage provider’s stock worth $270,000 after purchasing an additional 131 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Barclays upped their price objective on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Finally, Morgan Stanley set a $117.00 price objective on shares of NetApp in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $121.40.

NetApp Stock Up 1.4%

NetApp stock opened at $120.55 on Wednesday. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.58 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a fifty day moving average price of $116.49 and a two-hundred day moving average price of $104.04.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 EPS. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp’s dividend payout ratio is currently 36.75%.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the transaction, the executive vice president directly owned 23,628 shares of the company’s stock, valued at $2,922,074.76. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,529 shares of company stock valued at $3,362,874. Insiders own 0.28% of the company’s stock.

NetApp Company Profile

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.