NetApp, Inc. $NTAP Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 6.7% in the 4th quarter, Holdings Channel reports. The firm owned 62,487 shares of the data storage provider’s stock after selling 4,464 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in NetApp were worth $6,718,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Caliber Wealth Management LLC KS raised its stake in NetApp by 5.0% in the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after purchasing an additional 100 shares during the last quarter. Park Square Financial Group LLC raised its stake in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in NetApp by 2.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock valued at $655,000 after purchasing an additional 106 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in NetApp by 5.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after purchasing an additional 107 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in NetApp by 0.9% in the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after purchasing an additional 108 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on NTAP shares. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Citigroup downgraded NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday, May 14th. Bank of America increased their price objective on NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $122.27.

NetApp Stock Up 4.2%

Shares of NTAP opened at $123.94 on Friday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $126.66. The company has a market capitalization of $24.46 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.28. The stock has a fifty day simple moving average of $106.88 and a two-hundred day simple moving average of $106.57. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $1.91 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities analysts forecast that NetApp, Inc. will post 6.48 EPS for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp’s dividend payout ratio (DPR) is 34.78%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. This trade represents a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,275 shares of company stock valued at $347,650 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

NetApp 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.