Based on MarketBeat's report of Farther Finance Advisors LLC's Form 13F filing on NetApp (2026-10-15). Only claims present in the verified source are asserted here.
FINANCIALS MARKETS 13F 2026-10-15What the 13F actually says
Farther Finance Advisors LLC raised its NetApp (NASDAQ: NTAP) position by 214.6% in the third quarter, according to the Form 13F it filed with the SEC and summarised by MarketBeat. The advisor finished the period holding 7,727 shares after buying another 5,271, a position worth $1,623,000 at quarter end.
A 13F is a lagging snapshot: it is filed up to 45 days after the quarter closes and shows holdings, not conviction or intent. Read it as one data point in the ownership mix, not as a signal about NetApp's roadmap.
Who owns NetApp now
Institutions and hedge funds hold 92.17% of NetApp's shares, so the marginal buyer or seller is usually a fund, not a retail trader. Farther's filing is one of a cluster of small-account moves MarketBeat tracks:
- Roble Belko & Company Inc opened a position in Q1 worth $31,000
- West Financial Advisors LLC opened one in Q2 worth $37,000
- University of Texas / Texas A&M Investment Management Co. bought a new stake in Q4 worth about $51,000
- Bell Investment Advisors Inc opened a position in Q2 worth about $55,000
- Elevation Wealth Partners LLC added 90.8% in Q3, holding 292 shares worth $61,000
Every one of those is a rounding error against a $43.64bn market capitalisation. The useful signal is the direction: money is still flowing into the name from advisory accounts after the AI-storage re-rating. If you care about the earnings and cash side of that re-rating, our NetApp financials hub tracks the reported numbers and the dividend.
The other side of the trade: insiders
While funds added, NetApp executives were net sellers. Over the last three months insiders sold 173,524 shares worth $35,018,126:
- CEO George Kurian sold 10,000 shares on 1 October at an average of $210.04 — $2,100,400. He still directly holds 208,537 shares valued at $43,801,111.48, a 4.58% reduction in his position.
- EVP Elizabeth O'Callahan sold 1,000 shares on 12 October at an average of $237.42 — $237,420 — leaving her 29,737 shares worth approximately $7,060,158.54, a 3.25% reduction.
Insiders own just 0.36% of the company, so the dollar amounts matter more as sentiment than as control. The O'Callahan sale printed at $237.42, near the 52-week high of $240.87 — worth remembering the next time you hear "insiders bought the dip".
What Wall Street is pricing
Analyst targets on NTAP span a wide band, which tells you the AI-storage story is still contested:
- TD Cowen: $200 to $250, buy rating (6 October)
- Evercore: raised to outperform, $300 target (7 October)
- Bank of America: $200 to $220, neutral (30 September)
- Morgan Stanley: $173 to $191, equal weight (3 September)
- Wedbush: $150 to $170, neutral (3 September)
That is one Strong Buy, eight Buy and eleven Hold ratings, for an average of "Moderate Buy" and a consensus target of $213.20 — below the $222.20 the shares opened at on Thursday (15 October). A stock trading above its consensus target means the market has already moved past the published models; the next re-rating has to come from data, not from a target bump. On the product side of that argument, our AI coverage index collects what NetApp has actually shipped for AI workloads.
The fundamentals underneath the trading
The Q1 FY27 report on 2 September, as summarised by MarketBeat: $2.58 EPS against a $2.12 consensus (a $0.46 beat) on $2.02bn of revenue versus $1.84bn expected — up 29.9% year over year. Return on equity was 119.13% with a 19.18% net margin. Guidance was set at $9.73 to $10.03 EPS for fiscal 2027 and $2.54 to $2.64 for the next quarter, while analysts expect $8.32 for the current fiscal year.
The company also pays: a $0.52 quarterly dividend, $2.08 annualised, a 0.9% yield, paid 28 October to holders of record on 9 October, against a 29.34% payout ratio. On the balance sheet: debt-to-equity 1.30, current ratio 1.24, quick ratio 1.16. The stock's 50-day average is $201.22 and its 200-day average $162.19, with a one-year range of $93.69 to $240.87, a $43.64bn market cap, a 31.34 P/E, a 2.57 PEG and a 1.46 beta.
Why ONTAP admins should read the ownership page at all
Ownership and insider flows rarely change an upgrade plan. What they do change is the context you get asked about in budget season: whether the vendor funding your platform's roadmap is under pressure to show AI-era growth, and how much of that growth the market has already paid for. NetApp is sitting on a 92.17% institutional register, a 31.34 P/E and a stock above its consensus target — the spread between the bull case and the hold case is exactly the kind of thing that shows up as margin or R&D scrutiny later. For the competitive read, our NetApp vs Dell PowerStore comparison sets the two platforms against each other on the points that actually affect a migration.
Takeaway: Farther Finance's 215% increase is small money — $1.62M — but it is the same direction as the institutional register overall. The number worth watching is not who bought; it is whether the next two quarters' revenue can justify a stock trading over $200 with a consensus target of $213.20.
Sources: MarketBeat — NetApp, Inc. $NTAP Shares Acquired by Farther Finance Advisors LLC (cites the SEC Form 13F and the Form 4 insider filings).