Sequoia Financial Advisors LLC Purchases 4,269 Shares of NetApp, Inc. $NTAP

Sequoia Financial Advisors LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 82.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,432 shares of the data storage provider’s stock after acquiring an additional 4,269 shares during the period. Sequoia Financial Advisors LLC’s holdings in NetApp were worth $1,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC increased its position in shares of NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 225 shares in the last quarter. 1248 Management LLC bought a new stake in NetApp during the first quarter valued at about $25,000. Olde Wealth Management LLC purchased a new stake in shares of NetApp in the first quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of 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. Finally, Summit Securities Group LLC purchased a new position in NetApp during the first quarter valued at $36,000. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $119.07 on Friday. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.59 and a beta of 1.45. The company has a fifty day simple moving average of $117.42 and a 200-day simple 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 announced its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). The firm 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 company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm 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. On average, equities analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on NTAP shares. Morgan Stanley set a $117.00 price objective on shares of NetApp in a research report on Thursday, August 28th. Bank of America raised their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Barclays raised their price target on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. UBS Group raised their target price on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Finally, Northland Securities lifted their price objective on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.40.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,750 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. 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.