NetApp, Inc. $NTAP Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 472,143 shares of the data storage provider’s stock after selling 31,679 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of NetApp worth $55,930,000 as of its most recent filing with the SEC.

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

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $108.40 on Friday. The business has a 50-day moving average of $110.40 and a two-hundred day moving average of $112.38. The firm has a market capitalization of $21.47 billion, a PE ratio of 18.85, a P/E/G ratio of 2.38 and a beta of 1.38. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $127.78.

NetApp (NASDAQ:NTAP) last issued its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm 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. As a group, research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s dividend payout ratio is presently 36.17%.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the business’s 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $105.49, for a total transaction of $105,490.00. Following the completion of the sale, the executive vice president directly owned 21,075 shares of the company’s stock, valued at $2,223,201.75. This trade represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,654 shares of company stock valued at $175,782. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Bank of America increased their target price on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Barclays raised their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company upped their price objective on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and an average price target of $124.33.

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.