NetApp, Inc. $NTAP Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 46.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,306 shares of the data storage provider’s stock after selling 71,801 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in NetApp were worth $13,185,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after buying an additional 101 shares in the last quarter. Park Square Financial Group LLC lifted its position in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Assetmark Inc. lifted its position in shares of NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after acquiring an additional 104 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of NetApp by 16.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock valued at $89,000 after acquiring an additional 120 shares during the last quarter. Finally, MRWM Advisors LLC boosted its stake in shares of NetApp by 1.8% during the first quarter. MRWM Advisors LLC now owns 6,794 shares of the data storage provider’s stock valued at $696,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

NetApp stock opened at $185.59 on Friday. The firm has a market capitalization of $36.45 billion, a P/E ratio of 26.18, a PEG ratio of 2.52 and a beta of 1.44. The stock has a fifty day moving average price of $178.73 and a 200 day moving average price of $140.86. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. The company has a current ratio of 1.24, a quick ratio of 1.39 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Equities research analysts anticipate that NetApp, Inc. will post 7.34 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, October 9th. NetApp’s dividend payout ratio is presently 29.34%.

Analyst Ratings Changes

NTAP has been the subject of several analyst reports. Wedbush boosted their target price on shares of NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group raised their price target on shares of NetApp from $160.00 to $171.00 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Weiss Ratings upgraded shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Morgan Stanley boosted their price objective on shares of NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $192.07.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported record fiscal first-quarter results, with revenue rising 29.9% year over year to $2.03 billion and adjusted earnings of $2.58 per share, well above consensus estimates of $1.84 billion and approximately $2.13 per share. NTAP Q1 Earnings Beat Estimates on Hybrid, Public Cloud Revenue Growth
• Positive Sentiment: Management raised its fiscal 2027 adjusted EPS outlook to $9.73-$10.03 and forecast revenue of $7.975-$8.225 billion. Strong hybrid-cloud and public-cloud growth, all-flash storage demand and AI-related infrastructure upgrades are supporting the improved outlook. NetApp FY2027 Forecast and Raised EPS Outlook
• Positive Sentiment: Analysts largely raised their targets following the results. Goldman Sachs maintained a $210 target and TD Cowen reiterated its Buy rating with a $200 target, while Morgan Stanley lifted its target to $191. NetApp also expanded its AWS relationship by enabling storage migrations to Amazon FSx for NetApp ONTAP through AWS Transform.
• Neutral Sentiment: Analyst sentiment remains mixed: Citi downgraded the stock to Neutral with a $190 target, while Wedbush kept a Neutral rating despite raising its target to $170. The target changes suggest limited upside at current levels for some analysts.
• Negative Sentiment: The initial post-earnings selloff reflected a decline in free cash flow and management’s warning that second-quarter gross margin will decrease. Investors appear concerned that strong reported earnings and AI demand may not immediately translate into comparable cash generation.

Insider Activity at NetApp

In related news, EVP Elizabeth O’Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 2,608 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the sale, the president owned 46,530 shares of the company’s stock, valued at approximately $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,072 shares of company stock worth $8,719,520 over the last three months. Corporate insiders own 0.36% of the company’s stock.

About NetApp

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.