Mediolanum International Funds Ltd Boosts Stock Holdings in NetApp, Inc. $NTAP

Mediolanum International Funds Ltd grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 8.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,711 shares of the data storage provider’s stock after buying an additional 13,845 shares during the period. Mediolanum International Funds Ltd owned 0.09% of NetApp worth $18,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of NTAP. Brandywine Global Investment Management LLC grew its position in shares of NetApp by 275.3% in the second quarter. Brandywine Global Investment Management LLC now owns 267,471 shares of the data storage provider’s stock valued at $28,499,000 after purchasing an additional 196,199 shares in the last quarter. DNB Asset Management AS grew its holdings in NetApp by 154.8% in the 2nd quarter. DNB Asset Management AS now owns 38,865 shares of the data storage provider’s stock valued at $4,141,000 after buying an additional 23,613 shares in the last quarter. Swiss National Bank increased its stake in shares of NetApp by 9.0% in the 2nd quarter. Swiss National Bank now owns 624,800 shares of the data storage provider’s stock worth $66,572,000 after acquiring an additional 51,400 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of NetApp by 6.7% during the 2nd quarter. Personal CFO Solutions LLC now owns 2,465 shares of the data storage provider’s stock worth $263,000 after acquiring an additional 155 shares during the period. Finally, Prudential PLC boosted its position in shares of NetApp by 13.3% during the 2nd quarter. Prudential PLC now owns 102,627 shares of the data storage provider’s stock valued at $10,935,000 after acquiring an additional 12,014 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,750 shares of NetApp 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 completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,183 shares of company stock valued at $1,483,361 over the last 90 days. 0.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NTAP has been the topic of a number of analyst reports. Argus reaffirmed a “buy” rating and set a $130.00 target price on shares of NetApp in a research note on Friday, August 29th. Oppenheimer started coverage on NetApp in a report on Monday. They issued a “market perform” rating on the stock. Barclays raised their target price on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Bank of America lifted their target price on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $120.43.

NetApp Trading Up 3.9%

NTAP opened at $107.30 on Friday. 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. The business has a fifty day simple moving average of $116.95 and a 200-day simple moving average of $109.70. The firm has a market cap of $21.42 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last released its 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 during 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 business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, equities analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were given 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 dividend yield of 1.9%. NetApp’s payout ratio is currently 36.75%.

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.