Y Intercept Hong Kong Ltd Has $13.71 Million Holdings in NetApp, Inc. $NTAP

Y Intercept Hong Kong Ltd lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 515.1% in the 3rd quarter, Holdings Channel reports. The fund owned 115,757 shares of the data storage provider’s stock after acquiring an additional 96,937 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in NetApp were worth $13,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of NetApp during the second quarter worth about $315,000. Farther Finance Advisors LLC grew its holdings in shares of NetApp by 60.2% during the second quarter. Farther Finance Advisors LLC now owns 1,828 shares of the data storage provider’s stock worth $195,000 after buying an additional 687 shares in the last quarter. GAMMA Investing LLC raised its position in NetApp by 64.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,480 shares of the data storage provider’s stock valued at $477,000 after buying an additional 1,760 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in NetApp by 22.3% in the 2nd quarter. Fifth Third Bancorp now owns 13,347 shares of the data storage provider’s stock valued at $1,422,000 after buying an additional 2,437 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Performance

NASDAQ NTAP opened at $97.42 on Friday. The firm has a market capitalization of $19.30 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.19 and a beta of 1.38. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm’s fifty day moving average price is $108.98 and its two-hundred day moving average price is $112.06. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $127.78.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s payout ratio is 36.17%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NTAP. Barclays upped their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Northland Securities set a $137.00 price objective on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Bank of America raised their target price on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target on the stock. Finally, UBS Group boosted their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.33.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $105.49, for a total value of $105,490.00. Following the transaction, the executive vice president owned 21,075 shares of the company’s stock, valued at $2,223,201.75. This represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,654 shares of company stock worth $175,782 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

NetApp Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.