Chicago Partners Investment Group LLC Acquires Shares of 2,282 NetApp, Inc. $NTAP

Chicago Partners Investment Group LLC acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,282 shares of the data storage provider’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in NetApp during the second quarter valued at approximately $29,237,000. Chevy Chase Trust Holdings LLC raised its position in NetApp by 0.8% during the second quarter. Chevy Chase Trust Holdings LLC now owns 107,440 shares of the data storage provider’s stock valued at $11,448,000 after purchasing an additional 815 shares during the period. Arista Wealth Management LLC purchased a new stake in NetApp during the second quarter valued at approximately $214,000. Nordea Investment Management AB raised its position in NetApp by 2.0% during the second quarter. Nordea Investment Management AB now owns 336,347 shares of the data storage provider’s stock valued at $35,834,000 after purchasing an additional 6,454 shares during the period. Finally, Harbor Asset Planning Inc. purchased a new stake in NetApp during the second quarter valued at approximately $28,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Down 1.0%

NTAP opened at $116.64 on Friday. The stock’s fifty day moving average is $118.34 and its two-hundred day moving average is $105.87. The company has a market capitalization of $23.28 billion, a P/E ratio of 20.61, a PEG ratio of 2.56 and a beta of 1.45. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. 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 released its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 EPS 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 analysts’ expectations of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is 36.75%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTAP. Bank of America upped their price objective on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Argus reiterated a “buy” rating and issued a $130.00 price target on shares of NetApp in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Morgan Stanley set a $117.00 price target on NetApp in a report on Thursday, August 28th. Finally, Barclays increased their price target on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.40.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,029 shares of company stock valued at $2,444,194. 0.28% of the stock is currently owned by corporate insiders.

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.