Renasant Bank Purchases Shares of 2,603 NetApp, Inc. $NTAP

Renasant Bank acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, Holdings Channel reports. The fund acquired 2,603 shares of the data storage provider’s stock, valued at approximately $277,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its stake in NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after acquiring an additional 1,536,339 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its position in NetApp by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after purchasing an additional 1,024,626 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after purchasing an additional 931,850 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after purchasing an additional 597,956 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,750 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the sale, the chief executive officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The SEC filing for this sale provides additional information. Insiders have sold 20,029 shares of company stock valued at $2,338,294 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NTAP has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Barclays upped 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. JPMorgan Chase & Co. raised their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. William Blair reaffirmed a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Finally, Argus reiterated a “buy” rating and issued a $130.00 target price on shares of NetApp in a research note on Friday, August 29th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $122.40.

NetApp Trading Down 1.8%

Shares of NTAP opened at $110.42 on Wednesday. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The business has a 50-day moving average of $119.15 and a 200 day moving average of $108.99. The firm has a market cap of $22.04 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

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 business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. NetApp’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the company 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. As a group, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s payout ratio is presently 36.75%.

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.