5,238 Shares in NetApp, Inc. $NTAP Bought by NorthRock Partners LLC

NorthRock Partners LLC acquired a new position in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,238 shares of the data storage provider’s stock, valued at approximately $811,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTAP. California State Teachers Retirement System grew its stake in shares of NetApp by 15,681.5% during the second quarter. California State Teachers Retirement System now owns 48,620,175 shares of the data storage provider’s stock valued at $7,524,458,000 after acquiring an additional 48,312,092 shares in the last quarter. BlackRock Inc. acquired a new position in shares of NetApp in the second quarter worth about $2,925,168,000. Primecap Management Co. CA acquired a new position in shares of NetApp in the second quarter worth about $1,395,423,000. Norges Bank purchased a new position in NetApp in the fourth quarter valued at about $458,060,000. Finally, First Trust Advisors LP boosted its holdings in NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after purchasing an additional 2,046,912 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTAP has been the topic of several analyst reports. Bank of America lifted their price objective on NetApp from $180.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. Citigroup reduced their target price on NetApp from $209.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Wells Fargo & Company raised their price target on shares of NetApp from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. TD Cowen restated a “buy” rating and issued a $200.00 price target on shares of NetApp in a research note on Thursday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NetApp in a report on Friday, September 4th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $192.07.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. The trade was a 3.20% 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 link. Also, President Cesar Cernuda sold 49,464 shares of the business’s 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 owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 54,072 shares of company stock valued at $8,556,040. 0.36% of the stock is currently owned by corporate insiders.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Improved earnings outlook: Northland Securities retained an “Outperform” rating and raised its FY2027 EPS estimate to $8.14 from $7.11 and its FY2028 estimate to $9.15 from $7.85. It also increased estimates for several upcoming quarters, including Q2 2027 and Q3 2027. The firm’s price target is $187. Northland Securities estimates
• Positive Sentiment: Positive momentum and investor attention: Zacks added NTAP to its Rank #1 “Strong Buy” momentum list, while a separate Zacks report identified NetApp as a heavily watched stock. These designations may support near-term buying interest. Zacks momentum stocks
• Positive Sentiment: Strong operating performance: NetApp’s latest quarterly results exceeded expectations, with EPS of $2.58 versus the $2.12 consensus and revenue of $2.03 billion versus $1.84 billion expected. Revenue increased 29.9% year over year, and management provided FY2027 EPS guidance of $9.73–$10.03.
• Neutral Sentiment: Valuation remains a consideration: Citi reiterated a Hold rating while maintaining a $190 target, acknowledging an attractive AI-driven growth outlook but viewing the shares as fairly valued. Citi NetApp rating
• Neutral Sentiment: Short-interest data is unreliable: The report lists September short interest at zero shares and describes the change as “NaN,” making it unusable as a meaningful signal about short covering or bearish positioning.

NetApp Trading Down 0.6%

Shares of NASDAQ NTAP opened at $183.60 on Friday. The stock’s 50 day moving average price is $181.19 and its two-hundred day moving average price is $143.50. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The stock has a market capitalization of $36.06 billion, a P/E ratio of 25.90, a PEG ratio of 1.99 and a beta of 1.44. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS 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 company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $1.15 EPS. The business’s revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, analysts anticipate that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, October 9th. NetApp’s payout ratio is currently 29.34%.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.