NetApp, Inc. $NTAP Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,623,541 shares of the data storage provider’s stock after selling 30,316 shares during the quarter. Victory Capital Management Inc. owned 0.81% of NetApp worth $192,325,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of NetApp by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock worth $51,266,000 after buying an additional 20,089 shares in the last quarter. Citigroup Inc. grew its holdings in NetApp by 216.1% during the third quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after acquiring an additional 634,085 shares during the period. National Pension Service grew its holdings in NetApp by 26.0% during the third quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock worth $18,868,000 after acquiring an additional 32,833 shares during the period. Epoch Investment Partners Inc. raised its position in NetApp by 3.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock worth $192,938,000 after acquiring an additional 66,045 shares in the last quarter. Finally, J. Safra Sarasin Holding AG lifted its holdings in NetApp by 496.7% in the third quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after acquiring an additional 15,123 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NTAP. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Oppenheimer reissued a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. Finally, Barclays upped their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and an average price target of $122.42.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the transaction, the executive vice president owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This represents a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is currently owned by corporate insiders.

NetApp Stock Performance

NASDAQ:NTAP opened at $98.79 on Wednesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The firm has a market cap of $19.49 billion, a PE ratio of 16.52, a P/E/G ratio of 3.15 and a beta of 1.39. The firm has a 50 day simple moving average of $102.70 and a 200-day simple moving average of $111.17. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $126.66.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. NetApp’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be issued a $0.52 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 2.1%. NetApp’s payout ratio is 34.78%.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.