Procyon Advisors LLC Acquires 8,610 Shares of NetApp, Inc. $NTAP

Procyon Advisors LLC grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 109.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,487 shares of the data storage provider’s stock after acquiring an additional 8,610 shares during the period. Procyon Advisors LLC’s holdings in NetApp were worth $1,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NTAP. Norges Bank purchased a new position in NetApp during the second quarter valued at $281,093,000. Boston Partners increased its holdings in NetApp by 108.9% in the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after acquiring an additional 1,536,339 shares in the last quarter. Geode Capital Management LLC raised its stake in NetApp by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after acquiring an additional 1,024,626 shares during the period. Pacer Advisors Inc. raised its stake in NetApp by 103.6% during the 3rd quarter. Pacer Advisors Inc. now owns 1,783,103 shares of the data storage provider’s stock worth $211,226,000 after acquiring an additional 907,233 shares during the period. Finally, Bank of America Corp DE lifted its holdings in NetApp by 83.0% during the second quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock valued at $164,568,000 after purchasing an additional 700,467 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $105.49, for a total transaction of $105,490.00. Following the sale, the executive vice president directly owned 21,075 shares of the company’s stock, valued at $2,223,201.75. This represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,654 shares of company stock valued at $175,782 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

NetApp Stock Performance

NTAP opened at $108.40 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.38 and a beta of 1.38. The company has a fifty day moving average of $110.40 and a 200 day moving average of $112.38. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $127.78.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $1.87 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, sell-side analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s dividend payout ratio is presently 36.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTAP. William Blair reissued a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Northland Securities set a $137.00 target price on shares of NetApp and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. Wells Fargo & Company raised their price target on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group assumed coverage on NetApp in a research report on Tuesday. They issued a “buy” rating and a $128.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.33.

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.