Empowered Funds LLC Sells 69,334 Shares of NetApp, Inc. $NTAP

Empowered Funds LLC lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 35.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,094 shares of the data storage provider’s stock after selling 69,334 shares during the quarter. Empowered Funds LLC owned about 0.06% of NetApp worth $13,542,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NTAP. Patton Fund Management Inc. bought a new position in shares of NetApp during the 2nd quarter worth about $265,000. Aurora Investment Counsel acquired a new stake in NetApp during the second quarter worth about $2,337,000. Citizens Financial Group Inc. RI increased its stake in NetApp by 6.5% during the first quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock valued at $5,311,000 after acquiring an additional 3,704 shares during the period. Edmond DE Rothschild Holding S.A. raised its holdings in NetApp by 17.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock valued at $71,563,000 after acquiring an additional 122,784 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of NetApp by 119.3% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after acquiring an additional 3,193 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,529 shares of company stock worth $1,413,069. 0.28% of the stock is currently owned by insiders.

NetApp Stock Down 0.4%

NTAP opened at $106.40 on Wednesday. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 2.48 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The firm’s 50-day simple moving average is $118.06 and its 200-day simple moving average is $109.67. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. NetApp’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research reports. Northland Securities boosted their price objective on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Morgan Stanley set a $117.00 price objective on shares of NetApp in a research note on Thursday, August 28th. UBS Group raised their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. William Blair reiterated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Finally, Barclays increased their price target on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus target price of $122.07.

About NetApp

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, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.