10 Best Data Storage Stocks To Buy According to Hedge Funds

5. NetApp Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 38

NetApp Inc. (NASDAQ:NTAP) provides data management solutions that help organizations modernize their data infrastructures across hybrid and public cloud environments. It offers a portfolio of data storage systems, software, and services, that enable customers to manage, protect, and analyze their data effectively.

It delivered strong FQ2 2025 results, with revenue growing 6% year-over-year, driven by a 19% increase in all-flash storage and strong performance in first-party and marketplace cloud storage services. This was driven by an increasing momentum of its AI initiatives. In Q2, the company witnessed a significant surge in AI and data-lake modernization wins, with traction in sectors like the public sector, manufacturing, financial services, and healthcare.

By leveraging its intelligent data infrastructure platform, NetApp Inc. (NASDAQ:NTAP) helps customers overcome data silos and prepare their data for AI applications. It’s also deepening its partnerships with key industry leaders, such as NVIDIA, Domino Data Labs, and Google Cloud, to deliver cutting-edge AI solutions, which enables it to offer customers a comprehensive and integrated AI experience.

Artisan Mid Cap Value Fund stated the following regarding NetApp, Inc. (NASDAQ:NTAP) in its Q3 2024 investor letter:

“With regard to sales, we exited NetApp, Inc. (NASDAQ:NTAP), an enterprise data storage and solutions company. Shares had moved into the higher end of our range of fair value on strong earnings results and enthusiasm about the long-term growth potential from artificial intelligence for the company’s storage solutions.”