Vanguard Group Inc. Sells 40,973 Shares of NetApp, Inc. $NTAP

Vanguard Group Inc. trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,157,594 shares of the data storage provider’s stock after selling 40,973 shares during the period. Vanguard Group Inc. owned about 0.14% of NetApp worth $2,908,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTAP. Arrowstreet Capital Limited Partnership lifted its stake in shares of NetApp by 94.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after acquiring an additional 886,485 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of NetApp by 71.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after acquiring an additional 771,835 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after acquiring an additional 718,409 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of NetApp by 83.0% during the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after acquiring an additional 700,467 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of NetApp by 216.1% during the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after acquiring an additional 634,085 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Trading Down 0.1%

Shares of NASDAQ NTAP opened at $108.28 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The business has a fifty day simple moving average of $101.93 and a two-hundred day simple moving average of $106.67. The firm has a market cap of $21.37 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 3.36 and a beta of 1.30. NetApp, Inc. has a twelve month low of $86.70 and a twelve month high of $126.66.

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

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s payout ratio is 34.78%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTAP. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Citigroup raised their price target on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, The Goldman Sachs Group began coverage on NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $122.64.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Friday, April 10th. The stock was sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president directly owned 19,382 shares of the company’s stock, valued at $1,865,517.50. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 3,000 shares of company stock worth $300,370. Insiders own 0.28% of the company’s stock.

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.