Arista Wealth Management LLC Takes $214,000 Position in NetApp, Inc. $NTAP

Arista Wealth Management LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,008 shares of the data storage provider’s stock, valued at approximately $214,000.

Several other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in NetApp by 4,687.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock worth $93,874,000 after purchasing an additional 1,046,372 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in NetApp by 1,230.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after purchasing an additional 931,850 shares during the last quarter. Vanguard Group Inc. lifted its holdings in NetApp by 2.3% in 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 purchasing an additional 597,956 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NetApp by 18.8% in 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 purchasing an additional 560,218 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in NetApp by 97.7% in the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock worth $96,293,000 after purchasing an additional 541,837 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Northland Securities boosted their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. UBS Group boosted their target price on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Finally, Wedbush restated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, NetApp currently has an average rating of “Hold” and an average price target of $122.40.

NetApp Stock Down 0.3%

Shares of NTAP stock opened at $119.07 on Friday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The firm has a market cap of $23.77 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.45. The stock has a 50 day moving average of $117.42 and a 200-day moving average of $104.59. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates 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. On average, equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company 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 is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp’s payout ratio is currently 36.75%.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president owned 22,628 shares in the company, valued at approximately $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,529 shares of company stock worth $3,362,874. Company insiders own 0.28% of the company’s stock.

NetApp 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.