Traynor Capital Management Inc. Invests $605,000 in NetApp, Inc. $NTAP

Traynor Capital Management Inc. acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the third quarter, HoldingsChannel reports. The firm acquired 5,109 shares of the data storage provider’s stock, valued at approximately $605,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. raised its stake in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of NetApp during the second quarter worth about $28,000. CVA Family Office LLC grew its holdings in shares of NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares in the last quarter. SouthState Corp raised its position in NetApp by 434.5% in the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after buying an additional 239 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in NetApp in the 2nd quarter valued at approximately $34,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTAP has been the subject of several research reports. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. The Goldman Sachs Group started coverage on shares of NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. UBS Group lifted their price target on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Bank of America increased their price objective on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, Wells Fargo & Company raised their price objective on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetApp presently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’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 value of $105,490.00. Following the completion of the sale, the executive vice president directly owned 21,075 shares of the company’s stock, valued at $2,223,201.75. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,654 shares of company stock valued at $175,782. Insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $98.33 on Friday. The firm has a market capitalization of $19.48 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.38. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm’s fifty day moving average price is $108.45 and its two-hundred day moving average price is $111.86. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $127.78.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. NetApp’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 EPS. 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, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were paid a $0.52 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.08 annualized dividend and a yield of 2.1%. NetApp’s dividend payout ratio is currently 36.17%.

About NetApp

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.