Munich Reinsurance Co Stock Corp in Munich Boosts Position in NetApp, Inc. $NTAP

Munich Reinsurance Co Stock Corp in Munich grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 407.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 310,200 shares of the data storage provider’s stock after purchasing an additional 249,097 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich owned approximately 0.16% of NetApp worth $48,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NTAP. West Financial Advisors LLC acquired a new position in NetApp in the second quarter valued at $37,000. Park Square Financial Group LLC lifted its stake in 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 buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of NetApp in the fourth quarter valued at approximately $30,000. DV Equities LLC acquired a new position in shares of NetApp in the 4th quarter valued at $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in NetApp in the 3rd quarter valued at $35,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares of the company’s stock, valued at $5,872,164.54. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,072 shares of company stock valued at $8,719,520 in the last three months. 0.36% of the stock is currently owned by corporate insiders.

Trending Headlines about 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.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent research reports. Bank of America increased their target price on shares of NetApp from $180.00 to $206.00 and gave the stock a “neutral” rating in a research note on Monday, August 31st. Northland Securities upped their price objective on NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday. Argus increased their price objective on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Barclays lifted their target price on NetApp from $199.00 to $219.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $192.07.

NetApp Trading Up 0.1%

NASDAQ:NTAP opened at $185.59 on Friday. The company has a market capitalization of $36.42 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 2.52 and a beta of 1.44. The company has a quick ratio of 1.39, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The stock has a fifty day simple moving average of $178.73 and a 200-day simple moving average of $140.86.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.NetApp’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS. 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, equities research analysts expect that NetApp, Inc. will post 7.34 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

NetApp 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.