LGT Group Foundation Sells 51,112 Shares of NetApp, Inc. $NTAP

LGT Group Foundation lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,885 shares of the data storage provider’s stock after selling 51,112 shares during the quarter. LGT Group Foundation owned about 0.09% of NetApp worth $22,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the third quarter worth about $27,000. Rossby Financial LCC raised its position in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares in the last quarter. SouthState Corp raised its position in shares of NetApp by 434.5% in the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after buying an additional 239 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NetApp during the 2nd quarter worth approximately $34,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of NetApp during the 2nd quarter worth approximately $56,000. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total value of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares in the company, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.28% of the stock is currently owned by insiders.

NetApp Stock Performance

Shares of NetApp stock opened at $101.06 on Monday. The company’s 50 day moving average price is $102.15 and its two-hundred day moving average price is $111.00. The firm has a market capitalization of $19.94 billion, a P/E ratio of 16.90, a P/E/G ratio of 3.13 and a beta of 1.39. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $126.66. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business earned $1.91 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. 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 forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio is presently 34.78%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Wells Fargo & Company raised their target price on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. Bank of America lifted their price target on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group initiated coverage on NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target for the company. Finally, Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, NetApp presently has a consensus rating of “Moderate Buy” and an average price target of $122.42.

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.