Thrivent Financial for Lutherans Cuts Stock Position in NetApp, Inc. $NTAP

Thrivent Financial for Lutherans cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 68,934 shares of the data storage provider’s stock after selling 17,619 shares during the period. Thrivent Financial for Lutherans’ holdings in NetApp were worth $7,338,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust raised its position in shares of NetApp by 19.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 104 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of NetApp by 11.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock worth $115,000 after acquiring an additional 107 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of NetApp by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 7,330 shares of the data storage provider’s stock worth $781,000 after acquiring an additional 120 shares during the last quarter. EWA LLC increased its position in shares of NetApp by 5.4% during the second quarter. EWA LLC now owns 2,535 shares of the data storage provider’s stock worth $270,000 after purchasing an additional 131 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its stake in NetApp by 0.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 26,827 shares of the data storage provider’s stock valued at $2,356,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $119.00, for a total transaction of $119,000.00. Following the transaction, the executive vice president directly owned 22,628 shares of the company’s stock, valued at $2,692,732. The trade was a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,433 shares of company stock worth $284,229 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

NetApp Stock Down 0.4%

NTAP stock opened at $110.50 on Friday. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78. The firm has a market cap of $21.89 billion, a PE ratio of 19.22, a PEG ratio of 2.45 and a beta of 1.42. The firm’s 50 day moving average price is $114.04 and its 200-day moving average price is $111.76. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34.

NetApp (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the firm earned $1.87 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. On average, equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Northland Securities set a $137.00 price target on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Bank of America upped their price objective on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Morgan Stanley set a $117.00 target price on shares of NetApp in a research note on Thursday, August 28th. Finally, UBS Group boosted their target price on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. One 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. Based on data from MarketBeat, NetApp presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

NetApp Company 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.