NetApp, Inc. $NTAP Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 8.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 540,220 shares of the data storage provider’s stock after selling 48,805 shares during the period. NetApp accounts for 1.0% of Wedge Capital Management L L P NC’s portfolio, making the stock its 20th biggest holding. Wedge Capital Management L L P NC’s holdings in NetApp were worth $57,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Geneos Wealth Management Inc. boosted its holdings in shares of NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after acquiring an additional 210 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in NetApp in the second quarter worth approximately $315,000. Coldstream Capital Management Inc. lifted its position in NetApp by 21.7% in the second quarter. Coldstream Capital Management Inc. now owns 4,121 shares of the data storage provider’s stock worth $439,000 after purchasing an additional 735 shares during the period. Prudential Financial Inc. boosted its stake in NetApp by 3.0% during the 2nd quarter. Prudential Financial Inc. now owns 119,721 shares of the data storage provider’s stock valued at $12,756,000 after purchasing an additional 3,535 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in NetApp during the 2nd quarter valued at $220,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $102.34 on Friday. NetApp, Inc. has a one year low of $71.84 and a one year high of $126.66. The stock has a fifty day moving average of $100.51 and a 200-day moving average of $109.69. The company has a market capitalization of $20.19 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 3.24 and a beta of 1.39. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

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 for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted $1.91 EPS. The company’s quarterly revenue 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 anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

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 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total value of $100,670.00. Following the transaction, the executive vice president directly owned 20,382 shares of the company’s stock, valued at $2,051,855.94. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 3,000 shares of company stock valued at $309,610 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research reports. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Citigroup lifted their target price on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of NetApp in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group initiated coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.42.

About NetApp

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.