NetApp, Inc. (NTAP) Stock Price & Analysis
NetApp, Inc. (NTAP) closed at USD 212.51 on Thursday, October 22, 2026, down 2.16% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 217.21; the Oct 22, 2026 session ranged USD 205.09–215.77 on volume of 1,641,119 shares. Market capitalization is $41.74B, with a 52-week range of USD 93.69–240.87 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:27 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NTAP.md
Key facts (NTAP)
- Last four reported quarters (through Jul 31, 2026): revenue $7.39B, net income $1.42B (19.2% margin), free cash flow $1.65B (SEC filings).
- Valuation: P/E 29.4x (avg 18.4x at the last 3 fiscal year-ends), EV/EBITDA 20.2x, net cash $1.09B.
- 1 of 80 tracked superinvestors hold NTAP (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 22 Form 4 filings, $45.8M; 4 not under a Rule 10b5-1 plan ($4.7M); 2 by opportunistic insiders (0 outside 10b5-1 plans), 12 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.55 on a 1–5 scale) (20 analysts), mean target USD 211.69 (range 170–300).
- Total return with dividends: 1Y +83.2% vs S&P 500 +14.9%; 5Y +155.2% vs S&P 500 +80.3%.
- Next earnings: 2026-12-01, EPS estimate USD 2.6, revenue estimate $2.10B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NTAP)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $6.32B | $6.36B | $6.27B | $6.57B | $6.92B | $7.39B |
| Gross profit | $4.22B | $4.21B | $4.43B | $4.61B | $4.90B | — |
| Operating income | $1.16B | $1.02B | $1.21B | $1.34B | $1.67B | $1.85B |
| Net income | $937M | $1.27B | $986M | $1.19B | $1.28B | $1.42B |
| EPS (diluted) | $4.09 | $5.79 | $4.63 | $5.67 | $6.35 | — |
| Free cash flow | $985M | $868M | $1.53B | $1.34B | $1.87B | $1.65B |
| Gross margin | 66.8% | 66.2% | 70.7% | 70.2% | 70.7% | — |
| Operating margin | 18.3% | 16.0% | 19.4% | 20.3% | 24.2% | 25.0% |
| Net margin | 14.8% | 20.0% | 15.7% | 18.0% | 18.4% | 19.2% |
| Revenue growth | +10.0% | +0.7% | -1.5% | +4.9% | +5.4% | — |
| Cash + short-term investments | $3.07B | $3.07B | $3.25B | $3.85B | $3.58B | — |
| Total debt | $2.64B | $2.39B | $2.39B | $3.23B | $2.49B | — |
Fiscal years end Apr. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jul 31, 2026) (NTAP)
P/E 29.4x · P/S 5.7x · EV/EBITDA 20.2x · EV/Sales 5.5x · P/FCF 25.3x · P/B 27.9x · FCF yield 3.95% · Earnings yield 3.40% · Dividend yield (paid, TTM) 0.98% · Buyback yield (TTM) 2.04% · Net cash $1.09B · EV $40.7B
P/E at fiscal year-ends: Apr 2026 17.4x, Apr 2025 15.8x, Apr 2024 22.1x.
Superinvestors (SEC 13F-HR, Q2 2026) (NTAP)
1 of 80 tracked investors hold NTAP. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.01% | $677K | New position |
Insider sales (SEC Form 4, open-market, last ~7 months) (NTAP)
18 of 22 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-12 | O'Callahan Elizabeth M | EVP, Chief Admin. Officer | 1,000 | $237K | 3.3% | Yes (adopted December 22, 2025) | Routine (sold in Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-10-02 | Palin Carrie | Director | 5,000 | $1.1M | 42.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-01 | Held Gerald | Director | 5,757 | $1.2M | 35.8% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-10-01 | Kurian George | CEO | 10,000 | $2.1M | 4.6% | Yes (adopted June 15, 2026) | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep each year 2023–2025; this trade is outside those months) |
| 2026-09-29 | Kurian George | CEO | 50,000 | $10.5M | 18.6% | Yes (adopted June 15, 2026) | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep each year 2023–2025) |
| 2026-09-24 | Kurian George | CEO | 37,000 | $7.4M | 12.1% | Yes (adopted June 15, 2026) | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep each year 2023–2025) |
| 2026-09-21 | Kurian George | CEO | 13,000 | $2.6M | 4.1% | Yes (adopted June 15, 2026) | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep each year 2023–2025) |
| 2026-09-21 | Ahuja Deepak | Director | 3,450 | $690K | 21.2% | Yes (adopted June 15, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-14 | Ahuja Deepak | Director | 3,526 | $684K | 17.8% | Yes (adopted June 15, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-14 | Kurian George | CEO | 40,000 | $7.7M | 11.2% | Yes (adopted June 15, 2026) | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep each year 2023–2025) |
| 2026-09-11 | Nevens Thomas Michael | Director | 5,940 | $1.2M | 43.4% | No | Too little history (no open-market trades in 2025) |
| 2026-09-10 | O'Callahan Elizabeth M | EVP, Chief Admin. Officer | 1,000 | $185K | 3.2% | Yes (adopted December 22, 2025) | Routine (sold in Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-08-17 | Cernuda Cesar | President | 2,608 | $533K | 5.3% | Yes (adopted March 24, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-10 | O'Callahan Elizabeth M | EVP, Chief Admin. Officer | 1,000 | $194K | 3.2% | Yes (adopted December 22, 2025) | Routine (sold in Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-07-10 | O'Callahan Elizabeth M | EVP, Chief Admin. Officer | 1,000 | $171K | 3.1% | Yes (adopted December 22, 2025) | Routine (sold in Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-06-23 | Cernuda Cesar | President | 49,464 | $7.7M | 51.4% | Yes (adopted March 24, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-10 | O'Callahan Elizabeth M | EVP, Chief Admin. Officer | 1,000 | $163K | 3% | Yes (adopted November 29, 2024) | Routine (sold in Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-06-03 | Held Gerald | Director | 7,132 | $1.3M | 34.1% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-06-01 | De Lorenzo Daniel | VP, Controller & CAO | 225 | $38K | 17.1% | Yes (adopted June 26, 2025) | Too little history (no open-market trades in 2023) |
| 2026-05-18 | De Lorenzo Daniel | VP, Controller & CAO | 275 | $33K | 20.1% | Yes (adopted June 26, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (NTAP)
Consensus Hold (mean 2.55 on a 1–5 scale), 20 analysts; mean target USD 211.69 (low 170, high 300).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Barclays | Downgrade | Overweight → Equal-Weight | $219 |
| 2026-10-07 | Evercore ISI Group | Upgrade | In-Line → Outperform | $210 → $300 |
| 2026-10-06 | TD Cowen | Target raised | Buy | $200 → $250 |
| 2026-10-02 | Loop Capital | Target raised | Buy | $215 → $260 |
| 2026-09-30 | B of A Securities | Target raised | Neutral | $200 → $220 |
| 2026-09-03 | Northland Capital Markets | Target raised | Outperform | $171 → $187 |
| 2026-09-03 | Citigroup | Target lowered | Neutral | $209 → $190 |
| 2026-09-03 | TD Cowen | Reiterated | Buy | $200 |
| 2026-09-03 | UBS | Target raised | Neutral | $160 → $171 |
| 2026-09-03 | Wells Fargo | Target raised | Equal-Weight | $180 → $190 |
| 2026-09-03 | Morgan Stanley | Target raised | Equal-Weight | $173 → $191 |
| 2026-09-03 | Barclays | Target raised | Overweight | $199 → $219 |
Total return (dividends reinvested) (NTAP)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +83.2% | +155.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +83.6% | +20.6% |
| Volatility (annualized) | 44.5% | 35.4% |
| Max drawdown | -20.8% (Dec 2025→Jan 2026) | -42.0% (Aug 2024→Mar 2025) |
Companies that name NTAP in their SEC reports
| Relationship to NTAP | Company | Filing | Sentence |
|---|---|---|---|
| customer | TERADATA CORP /DE/ (TDC) | 10-K Feb 27, 2026 | “In addition, we buy servers from Dell Technologies Inc., storage disk systems from NetApp, Inc., and graphics processing units ("GPU") from NVIDIA.” |
NTAP analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Oct 2026) | $2.60 | $2.14 | +21.6% | $2.10B | 18 |
| Next quarter (ends Jan 2027) | $2.37 | $2.20 | +7.6% | $1.98B | 18 |
| Current fiscal year (ends Apr 2027) | $10.01 | $8.90 | +12.4% | $8.18B | 19 |
| Next fiscal year (ends Apr 2028) | $11.16 | $9.84 | +13.4% | $8.65B | 19 |
NTAP options: expected move
Options price a move of about ±18.9% (±$39.70) by Dec 18, 2026, which includes earnings on Dec 1, 2026; the earnings reaction alone is priced at about ±10.7%.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 49.4% | ±11.3% |
| Dec 18, 2026 | 56 | 59.6% | ±18.9% |
| Jan 15, 2027 | 84 | 55.6% | ±21.5% |
| Mar 19, 2027 | 147 | 54.5% | ±27.7% |
| Jun 17, 2027 | 237 | 53.4% | ±34.1% |
| Sep 17, 2027 | 329 | 52.7% | ±39.4% |
30-day implied volatility 52.3% vs 50.7% realized over the last 30 trading days. Put/call ratio (volume) 0.47. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:27 UTC)
| Price | USD 212.51 |
|---|---|
| Change | ▼ 2.16% (down) |
| Previous Close | USD 217.21 |
| Open | USD 214.13 |
| Day Range | USD 205.09 – 215.77 |
| 52-Week Range | USD 93.69 – 240.87 |
| Volume | 1,641,119 shares |
| Market Cap | $41.74B |
| Exchange | NMS |
Technical Analysis (NTAP)
Nexqual's technical model rates NTAP "NEUTRAL" based on 3 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:27 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 50.71 (neutral) |
| vs SMA50 | Above (USD 203.21) |
| MACD | 3.5 (positive) |
Analyst Ratings (NTAP)
Wall Street analysts rate NTAP "Hold" based on 20 analysts, with a mean price target of USD 211.69 (range USD 170–300), per Nexqual as of October 23, 2026 at 09:27 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 20 |
| Mean Target | USD 211.69 |
| High Target | USD 300 |
| Low Target | USD 170 |
| Buy / Hold / Sell | 8 / 12 / 0 |
Earnings (NTAP)
| Next Earnings Date | 2026-12-01 |
|---|---|
| EPS Estimate | USD 2.6 |
| Revenue Estimate | $2.10B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-07-31 | USD 2.58 vs est 2.12 ▲ beat |
| 2026-04-30 | USD 2.43 vs est 2.27 ▲ beat |
| 2026-01-31 | USD 2.12 vs est 2.06 ▲ beat |
| 2025-10-31 | USD 2.05 vs est 1.88 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:27 UTC.
Financials & Fundamentals (NTAP)
| Total Revenue | $7.39B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +29.90% |
| Gross Margin | +70.63% |
| Operating Margin | +26.67% |
| Profit Margin | +19.18% |
| ROE | +114.82% |
| Debt / Equity | 1.69 |
| Current Ratio | 1.24 |
| Total Cash | $3.58B |
| Total Debt | $2.53B |
| Free Cash Flow (last four quarters to Jul 2026, SEC 10-Q / 10-K) | $1.65B (22.3% of revenue) |
Source: Nexqual, October 23, 2026 at 09:27 UTC.
Financial Health Score (NTAP)
Nexqual rates NetApp, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:27 UTC.
| Growth | Solid — Revenue +5% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 71%, operating 27% (last 12 months) |
| Balance Sheet | Weak — $3.58B cash and investments vs $2.49B debt (Jul 2026, SEC), net cash |
| Cash Flow | Strong — FCF $1.65B (last 4 quarters to Jul 2026, SEC), 22% margin |
| Efficiency | Strong — ROE 115%, ROA 11.7% |
Ownership (NTAP)
| Insider Ownership | +0.33% |
|---|---|
| Institutional Ownership | +102.13% |
| Shares Outstanding | 196.42M |
| Float | 195.46M |
| Short % of Float | +5.46% |
Source: Nexqual, October 23, 2026 at 09:27 UTC.
Leadership (NTAP)
NetApp, Inc. is led by George Kurian, CEO & Director, per Nexqual as of October 23, 2026 at 09:27 UTC.
| CEO & Director | George Kurian |
|---|---|
| President | Cesar Cernuda Rego |
| Executive VP & CFO | Wissam G. Jabre C.F.A. |
| Executive VP & Chief Product Officer | Syam Nair |
| Executive Vice President of Business Technology & Operations | Gus Shahin |
Major Backers & Investors (NTAP)
Notable institutional backers of NetApp, Inc. include Primecap Management Company, Ameriprise Financial, Inc., UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, according to Nexqual as of October 23, 2026 at 09:27 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Primecap Management Company | 4.59% |
| Ameriprise Financial, Inc. | 2.38% |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 2.26% |
| NORGES BANK | 2.12% |
| Wellington Management | 1.97% |
| Fidelity | 1.3% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 12.81% |
| BlackRock | 9.62% |
| State Street | 5.05% |
| Geode Capital | 3.24% |
Source: Nexqual, October 23, 2026 at 09:27 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| TWLO | Twilio Inc. | USD 253.63 | ▼ 4.89% |
| XYZ | Block, Inc. | USD 79.02 | ▲ 1.04% |
| ZS | Zscaler, Inc. | USD 237.76 | ▲ 2.78% |
| OKTA | Okta, Inc. | USD 201.33 | ▼ 3.5% |
| CRWV | CoreWeave, Inc. | USD 55.6 | ▼ 10.06% |
| MDB | MongoDB, Inc. | USD 362.24 | ▼ 7.3% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:27 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt