Bleakley Financial Group LLC Makes New $1.15 Million Investment in NetApp, Inc. $NTAP

Bleakley Financial Group LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,258 shares of the data storage provider’s stock, valued at approximately $1,153,000.

Several other institutional investors have also modified their holdings of NTAP. Geneos Wealth Management Inc. grew its holdings in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after buying an additional 210 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of NetApp during the second quarter valued at about $315,000. Cerity Partners LLC lifted its holdings in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after purchasing an additional 4,232 shares during the period. Bank of Nova Scotia grew its position in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after buying an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after buying an additional 2,277 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the sale, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 52,964 shares of company stock valued at $8,181,642. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush upped their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Argus upped their target price on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Northland Securities lifted their price target on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. boosted their price objective on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, UBS Group restated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Price Performance

NTAP stock opened at $163.88 on Friday. The firm has a 50-day moving average of $153.28 and a two-hundred day moving average of $120.54. The firm has a market capitalization of $32.11 billion, a PE ratio of 25.77, a P/E/G ratio of 2.92 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp’s dividend payout ratio is currently 32.70%.

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.