Moran Wealth Management LLC Lowers Stake in NetApp, Inc. $NTAP

Moran Wealth Management LLC lessened its holdings in NetApp, Inc. (NASDAQ:NTAP) by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 271,739 shares of the data storage provider’s stock after selling 11,149 shares during the quarter. NetApp comprises 1.0% of Moran Wealth Management LLC’s portfolio, making the stock its 14th largest position. Moran Wealth Management LLC owned approximately 0.14% of NetApp worth $32,190,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NTAP. Harbour Investments Inc. grew its stake in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of NetApp in the second quarter worth $28,000. CVA Family Office LLC increased its holdings in shares of NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 219 shares in the last quarter. SouthState Corp increased its holdings in shares of NetApp by 434.5% during the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 239 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of NetApp in the 2nd quarter worth about $34,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the sale, the executive vice president directly owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,654 shares of company stock valued at $189,292 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

NetApp Trading Down 2.2%

NASDAQ:NTAP opened at $104.31 on Thursday. The company has a market cap of $20.66 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.35 and a beta of 1.38. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The company has a 50 day simple moving average of $111.43 and a two-hundred day simple moving average of $112.36. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $127.78.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the business posted $1.87 EPS. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, January 2nd. NetApp’s dividend payout ratio is 36.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wedbush restated a “neutral” rating and issued a $110.00 price objective on shares of NetApp in a report on Friday, October 10th. Bank of America upped their price objective on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Citigroup lowered their price target on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

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.