2,284 NetApp, Inc. $NTAP Shares Sold by Invariant Investment Management

Invariant Investment Management lessened its holdings in NetApp, Inc. (NASDAQ:NTAP) by 44.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,871 shares of the data storage provider’s stock after selling 2,284 shares during the period. Invariant Investment Management’s holdings in NetApp were worth $650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of NetApp by 214.6% during the third quarter. Farther Finance Advisors LLC now owns 7,727 shares of the data storage provider’s stock worth $1,623,000 after acquiring an additional 5,271 shares during the last quarter. Avidian Wealth Enterprises LLC bought a new stake in NetApp in the 3rd quarter valued at $258,000. Valeo Financial Advisors LLC lifted its stake in NetApp by 5.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,651 shares of the data storage provider’s stock worth $767,000 after purchasing an additional 190 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of NetApp by 90.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock valued at $61,000 after purchasing an additional 139 shares during the last quarter. Finally, Private Client Services LLC bought a new position in shares of NetApp during the 3rd quarter valued at about $662,000. 92.17% of the stock is owned by institutional investors.

Insider Activity at NetApp

In other NetApp news, Director Carrie Palin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $216.43, for a total value of $1,082,150.00. Following the completion of the sale, the director directly owned 6,660 shares in the company, valued at $1,441,423.80. This trade represents a 42.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth O’Callahan sold 1,000 shares of NetApp stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $184.74, for a total transaction of $184,740.00. Following the completion of the transaction, the executive vice president directly owned 30,737 shares in the company, valued at $5,678,353.38. This represents a 3.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,524 shares of company stock valued at $34,951,626 over the last three months. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NTAP. Argus set a $225.00 target price on NetApp in a research report on Friday, September 11th. Bank of America upped their price objective on NetApp from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Loop Capital set a $300.00 target price on shares of NetApp in a report on Wednesday. Cantor Fitzgerald upgraded shares of NetApp to an “overweight” rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on shares of NetApp from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.20.

NetApp Trading Down 2.0%

NTAP stock traded down $4.72 during mid-day trading on Thursday, reaching $231.05. The company had a trading volume of 2,267,322 shares, compared to its average volume of 2,699,758. The firm has a 50 day moving average of $197.24 and a 200 day moving average of $158.51. The company has a market capitalization of $45.38 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.46 and a beta of 1.46. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $238.07. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. 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 analysts predict that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, October 9th. NetApp’s payout ratio is 29.34%.

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp’s integration with AWS Transform allows customers to migrate block-storage data from ONTAP directly to Amazon FSx alongside compute and networking workloads. The partnership could expand NetApp’s cloud opportunity and help position ONTAP as a preferred storage platform for enterprise migrations. Can AWS Transform Make NetApp the Default Storage Landing Zone in the Cloud?
• Positive Sentiment: NetApp and Oracle also announced a fully managed cloud-storage service, reinforcing the company’s multicloud strategy and potentially supporting recurring revenue growth. NetApp and Oracle Partner to Provide Fully Managed Cloud Storage Service
• Positive Sentiment: Evercore upgraded NTAP, citing a favorable outlook and arguing that additional new products may not be necessary to drive further upside. Other analyst coverage has also turned more constructive, including a recent upgrade and higher price targets. NetApp stock scores analyst upgrade to buy after big rally
• Neutral Sentiment: NetApp has gained roughly 147% over six months, supported by AI-related storage demand, all-flash growth and cloud expansion. The rally places the stock near its 52-week high and leaves investors focused on whether earnings growth can justify the elevated valuation. NetApp Up 147% in the Past 6 Months
• Negative Sentiment: Analysts and technical observers warn that NTAP may be overvalued after its rapid advance, with an RSI above 70 signaling overbought conditions and potential profit-taking. Premium valuation and possible margin pressure remain key risks.
• Negative Sentiment: Director Carrie Palin sold 5,000 shares, while CEO George Kurian reportedly sold 10,000 shares. Although insider sales do not necessarily indicate deteriorating fundamentals, they can add to near-term investor caution. NetApp Insider Carrie Palin Sells 5,000 Shares

About NetApp

NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.

Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.