NetApp, Inc. $NTAP Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in NetApp, Inc. (NASDAQ:NTAP) by 13.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 192,721 shares of the data storage provider’s stock after purchasing an additional 22,287 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NetApp were worth $20,638,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Abich Financial Wealth Management LLC acquired a new stake in shares of NetApp during the 3rd quarter valued at about $27,000. Rossby Financial LCC raised its holdings in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the period. JFS Wealth Advisors LLC boosted its position in NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in NetApp during the third quarter worth approximately $35,000. Finally, Richardson Financial Services Inc. grew its holdings in NetApp by 49.4% in the third quarter. Richardson Financial Services Inc. now owns 484 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president owned 19,382 shares of the company’s stock, valued at $1,865,517.50. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 3,000 shares of company stock worth $300,370. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NTAP shares. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Citigroup lifted their price target on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $120.75.

NetApp Price Performance

NASDAQ:NTAP opened at $111.80 on Wednesday. The stock has a 50 day moving average of $101.23 and a two-hundred day moving average of $107.02. NetApp, Inc. has a 12 month low of $81.73 and a 12 month high of $126.66. The firm has a market cap of $22.06 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, analysts expect that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s payout ratio is 34.78%.

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.