NTAP
NetApp, Inc.Evidence as of 2026-09-03Overview · NetApp, Inc.
NetApp, Inc. provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, NetApp ElementOS soft…
Management team
- Mr. Octavian Tanase · Senior Vice President of Engineering - Hybrid Cloud GroupFind on LinkedIn
- Ms. Debra Charlotte McCowan · Executive VP & Chief Human Resources OfficerFind on LinkedIn
- Ms. Kris Newton · VP of Corporate Communications & Investor RelationsFind on LinkedIn
- Mr. William H. Miller Jr. · Senior VP & Chief Information OfficerFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.0 on a −2 to +2 scale — was +0.1 before the debate changed the read.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
Revenue rose sequentially from $ 1,559,000,000 in fiscal Q1 2025 (fiscal quarter ended 2025-08-22) to $ 1,705,000,000 in fiscal Q2 2025 (fiscal quarter ended 2025-11-21) and to $ 1,713,000,000 in Q3 2026 (fiscal quarter ended 2026-02-20), with quarter-to-quarter growth decelerating in absolute dollars. Gross profit and gross margin held near prior levels — gross profit moved from $ 1,098,000,000 to $ 1,227,000,000 to $ 1,209,000,000, implying margins of ~ 70.5 %, ~ 71.9 % and ~ 70.6 % respectively.
Operating income climbed from $ 309,000,000 to $ 399,000,000 to $ 434,000,000 across the same quarters, while net income rose from $ 233,000,000 to $ 305,000,000 to $ 334,000,000 and diluted EPS from $ 1.15 to $ 1.51 to $ 1.67. Shares outstanding and weighted-average diluted shares declined over the period, long-term debt fell and then stabilized near $ 2,486–$ 2,487,000,000, and cash fluctuated before recovering to $ 2,070,000,000 as of 2026-04-24; stockholders' equity increased to $ 1,351,000,000 by that same date.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue grew from $1,559,000,000 in fiscal Q1 2025 (2025-04-26 to 2025-07-25) to $1,705,000,000 in fiscal Q2 2025 (2025-07-26 to 2025-10-24) and to $1,713,000,000 in fiscal Q3 2026 (2025-10-25 to 2026-01-23), showing sequential revenue increases but a deceleration in the absolute amount of quarter-to-quarter growth.
XBRL companyfacts · 0001193125-25-189700Gross profit was $1,098,000,000 in fiscal Q1 2025 (2025-04-26 to 2025-07-25), $1,227,000,000 in fiscal Q2 2025 (2025-07-26 to 2025-10-24) and $1,209,000,000 in fiscal Q3 2026 (2025-10-25 to 2026-01-23); expressed as gross margins, those figures imply ~70.5% in Q1 2025, ~71.9% in Q2 2025 and ~70.6% in Q3 2026 (gross profit / revenue for each quarter).
XBRL companyfacts · 0001193125-25-189700Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
A Form 4 reporting insider transactions for NetApp, Inc. was filed on 2026-08-18.
4 filed 2026-08-18A Form 4 reporting insider transactions for NetApp, Inc. was filed on 2026-08-18.
4 filed 2026-08-18Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Recent price momentum is strong: 6-month momentum is +83.1% and ranks in the 96th percentile of the 547-stock research universe as of 2026-09-02.
Moneyta signal set · 2026-09-02weakened in debateLonger-term momentum is also elevated: the 12-1 momentum metric is +91.7% and ranks in the 91th percentile of the 547-stock research universe as of 2026-09-02.
Moneyta signal set · 2026-09-02weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02, NTAP is held by the IVV ETF at a weight of 0.05% of the fund.
ETF constituents · market dataThere is a cluster of seven Form 4 filings for NTAP with filed dates on 2026-08-18 (six filings) and 2026-08-19 (one filing).
Form 4 × 7 (90d window not enforced here)Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple outlets reported NetApp had a "record start to fiscal 2027," stating first-quarter revenue rose 30% year over year to $2.03 billion and non-GAAP EPS increased 66% to $2.58 for the quarter ended July 2026.
News · thelincolnianonline.com · 2026-09-03Some coverage highlighted that NetApp surpassed expectations for the quarter ended July 2026, noting earnings and revenue surprises of +21.13% and +9.86%, respectively.
News · finance.yahoo.com · 2026-09-02Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Across the parsed Forms 3/4/5 in the 180-day window the net reported insider activity is aggregate sales of "$533k" and no reported open-market purchases (distinct_buyers = 0, bought = "$0").
Form 4 · CERNUDA CESAR (President) · $243k sold · 2026-08-17weakened in debateCERNUDA CESAR (President) executed four sales on 2026-08-17 under a stated 10b5-1 plan, for 1192, 495, 821 and 100 shares respectively and reported values "$243k", "$101k", "$169k" and "$21k" on that filing.
Form 4 · CERNUDA CESAR (President) · $243k sold · 2026-08-17Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model reports an implied free-cash-flow (FCF) growth rate of 12.71% that today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month FCF is $1,554,000,000 and FCF per share is $7.77.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence set shows sequential top-line growth alongside rising operating income and net income, with diluted EPS increasing while share count steadily declined — together these items point to improving operational profitability and EPS leverage (evidence strength: strong). Balance-sheet indicators show a material reduction in long-term debt from ~$3.24B to ~2.49B and rising stockholders' equity into 2026, which supports a healthier capital structure (evidence strength: medium-strong). Market signals and news flow reinforce a favorable market read: strong 6- and 12-month momentum metrics, a sustained golden-cross regime, and multiple outlets reporting a "record start to fiscal 2027" with sizable revenue and non-GAAP EPS beats (evidence strength: strong). Valuation multiples imply the market is pricing solid cash flow (trailing FCF $1.554B, FCF/sh $7.77) at moderate-to-stretch multiples — this is descriptive of current market pricing but does not on its own overturn the fundamental and market-strength evidence (evidence strength: medium).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.30
38 surviving claims rest on 21 distinct sources; the heaviest analyst carries 21% of them, and 93% of what the desk raised survived the debate.
The evidence set is fairly robust in aggregate — most candidate claims survived debate and multiple distinct sources are cited — but a modest concentration of reliance on a single analyst and a limited source base mean some claims carry more leverage than others. In practice, treat market-signal reads as moderately sturdy but more sensitive to a few inputs; valuation and filing-based claims rest on firm documents and therefore bear more weight.
Peer context · computed, not argued
12-1 momentum ranks 3rd of 7 in Computer Hardware (as of 2026-09-02).
90-day volatility ranks 7th of 7 in Computer Hardware (as of 2026-09-02).
dividend yield ranks 1st of 7 in Computer Hardware (as of 2026-09-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
10 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.8 to the score
7 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.2 to the score
2 holdings records
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
7 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−1.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on NTAP Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.