The Manufacturers Life Insurance Company Invests $18.95 Million in NetApp, Inc. $NTAP

The Manufacturers Life Insurance Company purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 122,446 shares of the data storage provider’s stock, valued at approximately $18,950,000. The Manufacturers Life Insurance Company owned approximately 0.06% of NetApp at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of NetApp in the 2nd quarter valued at $2,925,168,000. State Street Corp lifted its position in shares of NetApp by 1.1% during the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock worth $1,091,499,000 after buying an additional 115,451 shares during the last quarter. Wellington Management Group LLP boosted its stake in NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after buying an additional 718,409 shares in the last quarter. Norges Bank acquired a new stake in NetApp in the fourth quarter valued at about $458,060,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NetApp by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock valued at $442,018,000 after acquiring an additional 611,003 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Trading Down 1.7%

Shares of NetApp stock opened at $190.64 on Friday. The stock has a market capitalization of $37.41 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 3.45 and a beta of 1.45. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. The stock has a 50 day moving average price of $175.36 and a two-hundred day moving average price of $137.69. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. NetApp’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that NetApp, Inc. will post 7.34 earnings per share for the current fiscal year.

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp was named a Leader in Gartner’s 2026 Magic Quadrant for Enterprise Storage Platforms and ranked first for the Hybrid Cloud Storage Use Case. The recognition could support customer confidence and strengthen NetApp’s competitive position. NetApp Named a Leader in the 2026 Gartner Magic Quadrant for Enterprise Storage Platforms
• Positive Sentiment: Analyst commentary highlighted momentum in NetApp’s Public Cloud business, driven by hyperscaler storage demand. Strong margins could create operating leverage as cloud revenue expands. Will NetApp’s Public Cloud Business Maintain Its Growth Momentum?
• Positive Sentiment: Technical coverage noted that NTAP recently moved above its 20-day moving average, a signal that could indicate improving short-term momentum and technical support. NetApp Just Overtook the 20-Day Moving Average
• Neutral Sentiment: NetApp plans to participate in upcoming investor conferences, which may provide management with an opportunity to discuss demand, cloud growth and its outlook, but no new financial information was announced. NetApp to Participate in Upcoming Conferences
• Neutral Sentiment: Comparisons with Super Micro Computer focused on relative valuation and investment appeal, offering context for investors but no company-specific change to NetApp’s fundamentals. SMCI vs. NTAP: Which Stock Is the Better Value Option?
• Negative Sentiment: The stock declined despite a stronger market session, indicating possible profit-taking or concern that its elevated valuation already reflects much of the expected growth. NetApp’s latest reported quarter also included an earnings-per-share miss, despite revenue exceeding estimates, which may keep investors focused on execution. NetApp Stock Falls Amid Market Uptick

Insider Activity

In other NetApp news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,297 shares of company stock worth $8,758,016 over the last three months. 0.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTAP. UBS Group reissued a “neutral” rating and set a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. Citigroup raised their price target on shares of NetApp from $150.00 to $209.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. Susquehanna boosted their target price on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $137.00 to $173.00 in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $179.77.

NetApp Company 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.