Gateway Investment Advisers LLC Takes Position in NetApp, Inc. $NTAP

Gateway Investment Advisers LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,621 shares of the data storage provider’s stock, valued at approximately $816,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NTAP. Abich Financial Wealth Management LLC acquired a new position in shares of NetApp in the 3rd quarter valued at $27,000. Rossby Financial LCC raised its holdings in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the period. JFS Wealth Advisors LLC raised its holdings in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after buying an additional 201 shares during the period. Torren Management LLC purchased a new stake in NetApp during the fourth quarter valued at about $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in NetApp during the third quarter valued at about $35,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Up 4.4%

NetApp stock opened at $118.00 on Friday. NetApp, Inc. has a twelve month low of $93.23 and a twelve month high of $126.66. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The firm has a market cap of $23.28 billion, a PE ratio of 19.73, a P/E/G ratio of 3.34 and a beta of 1.28. The firm’s 50 day moving average price is $102.98 and its two-hundred day moving average price is $106.38.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted $1.91 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, research analysts predict that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp’s dividend payout ratio is presently 34.78%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTAP. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. JPMorgan Chase & Co. downgraded shares of NetApp from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. Finally, Citigroup raised their target price on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $122.64.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president directly owned 19,382 shares in the company, valued at $1,865,517.50. The trade was a 4.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 3,000 shares of company stock worth $300,370. 0.28% of the stock is owned by company insiders.

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.