Private Client Services LLC Purchases 3,152 Shares of NetApp, Inc. $NTAP

Private Client Services LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,152 shares of the data storage provider’s stock, valued at approximately $662,000.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of NetApp in the second quarter valued at approximately $2,925,168,000. Primecap Management Co. CA acquired a new position in shares of NetApp during the second quarter worth approximately $1,395,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NetApp by 9.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,444,057 shares of the data storage provider’s stock worth $687,762,000 after buying an additional 383,701 shares in the last quarter. First Trust Advisors LP increased its position in NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after acquiring an additional 2,046,912 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in NetApp by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,129,773 shares of the data storage provider’s stock valued at $218,065,000 after acquiring an additional 30,559 shares during the period. 92.17% of the stock is currently owned by institutional investors.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp introduced Novus, an AI-factory storage architecture designed to deliver up to 100 terabytes per second of aggregate throughput and improve GPU utilization. The announcement strengthens the company’s positioning in large-scale AI workloads. NetApp introduces new architecture for AI factories
• Positive Sentiment: New collaborations with Supermicro and Oracle are broadening NetApp’s AI and cloud ecosystem. The planned Oracle Cloud Infrastructure-native managed storage service will use ONTAP capabilities to support enterprise and AI workloads, while the Supermicro relationship targets enterprise, neocloud and sovereign-AI deployments. NetApp AI infrastructure and cloud partnership expansion
• Positive Sentiment: NetApp’s latest quarter exceeded expectations, with revenue rising nearly 30% year over year to about $2.03 billion and EPS reaching $2.58 versus a $2.12 consensus estimate. Management also raised fiscal 2027 guidance to $7.975 billion–$8.225 billion in revenue and $9.73–$10.03 in non-GAAP EPS.
• Positive Sentiment: Bank of America raised its price target after the INSIGHT event, arguing that NetApp’s AI opportunity could support faster growth. Zacks also upgraded the stock to a Strong Buy, adding to bullish momentum. Bank of America raises NetApp target
• Neutral Sentiment: Analyst opinions remain mixed, with a consensus “Hold” rating and several targets below the current market level, raising questions about near-term upside after the strong rally.
• Negative Sentiment: CEO George Kurian sold 50,000 shares for approximately $10.5 million in a disclosed, preplanned transaction. The sale reduces his ownership and follows additional insider selling, though its planned nature limits the bearish signal. NetApp CEO share sale

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of NetApp in a research report on Thursday, September 3rd. Northland Securities raised their price target on NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Wedbush increased their target price on shares of NetApp from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Finally, UBS Group increased their target price on shares of NetApp from $160.00 to $171.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $194.86.

NetApp Price Performance

Shares of NTAP traded up $14.76 during midday trading on Friday, reaching $229.81. The stock had a trading volume of 2,078,741 shares, compared to its average volume of 2,678,648. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The company has a market capitalization of $45.14 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.26 and a beta of 1.46. The firm’s 50 day moving average price is $191.52 and its 200-day moving average price is $154.03. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $230.50.

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

NetApp Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $184.74, for a total value of $184,740.00. Following the sale, the executive vice president directly owned 30,737 shares in the company, valued at $5,678,353.38. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deepak Ahuja sold 3,450 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $200.00, for a total transaction of $690,000.00. Following the sale, the director directly owned 12,814 shares of the company’s stock, valued at approximately $2,562,800. This represents a 21.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 158,524 shares of company stock worth $31,769,076. Company insiders own 0.36% of the company’s stock.

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.