NetApp, Inc. $NTAP Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its position in NetApp, Inc. (NASDAQ:NTAP) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 3,544,644 shares of the data storage provider’s stock after selling 96,241 shares during the period. NetApp accounts for about 2.2% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 17th largest position. Beutel Goodman & Co Ltd.’s holdings in NetApp were worth $377,681,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. 1248 Management LLC purchased a new position in shares of NetApp in the 1st quarter valued at about $25,000. Harbour Investments Inc. boosted its position in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in NetApp in the second quarter valued at approximately $28,000. CVA Family Office LLC increased its position in shares of NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after buying an additional 219 shares in the last quarter. Finally, SouthState Corp increased its position in shares of NetApp by 434.5% in the second 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. 92.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America increased their target price on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. Argus restated a “buy” rating and set a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has an average rating of “Moderate Buy” and an average price target of $124.07.

NetApp Stock Performance

NTAP opened at $115.99 on Friday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $131.30. The firm has a market capitalization of $22.97 billion, a PE ratio of 20.17, a PEG ratio of 2.53 and a beta of 1.42. 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 firm’s 50-day moving average price is $114.83 and its 200 day moving average price is $110.66.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company 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, sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp’s payout ratio is 36.17%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $119.00, for a total value 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 $2,692,732. This trade represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,183 shares of company stock worth $1,483,361 in the last three months. 0.28% of the stock is owned by corporate insiders.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.