CreativeOne Wealth LLC Invests $220,000 in NetApp, Inc. $NTAP

CreativeOne Wealth LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, Holdings Channel reports. The fund acquired 2,065 shares of the data storage provider’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in NetApp by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after purchasing an additional 686,188 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NetApp by 16.8% during the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after buying an additional 1,024,626 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NetApp by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after buying an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 valued at $311,529,000 after buying an additional 560,218 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in NetApp by 12.3% in the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock valued at $308,107,000 after acquiring an additional 384,362 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,750 shares of the company’s 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 transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the transaction, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 12,183 shares of company stock valued at $1,483,361. 0.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several research reports. Northland Securities set a $137.00 price target on shares of NetApp and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Wedbush restated a “neutral” rating and set a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $117.00 price objective on NetApp in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.07.

NetApp Stock Performance

Shares of NTAP opened at $112.27 on Tuesday. The firm has a 50-day moving average of $115.25 and a 200-day moving average of $110.48. NetApp, Inc. has a one year low of $71.84 and a one year high of $131.30. The company has a market cap of $22.24 billion, a PE ratio of 19.84, 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 current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP) last issued its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the firm earned $1.87 EPS. NetApp’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. As a group, equities analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, January 2nd. NetApp’s payout ratio is currently 36.17%.

About NetApp

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.