Corient Private Wealth LLC Cuts Stake in NetApp, Inc. $NTAP

Corient Private Wealth LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.0% in the second quarter, Holdings Channel reports. The fund owned 47,951 shares of the data storage provider’s stock after selling 11,974 shares during the quarter. Corient Private Wealth LLC’s holdings in NetApp were worth $5,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of NTAP. Norges Bank bought a new stake in NetApp in the 2nd quarter valued at about $281,093,000. Boston Partners increased its stake in shares of NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after purchasing an additional 1,536,339 shares in the last quarter. Geode Capital Management LLC raised its position in shares of NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after purchasing an additional 1,024,626 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after buying an additional 931,850 shares in the last quarter. Finally, 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 valued at $164,568,000 after buying an additional 700,467 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Zacks raised near-term 2026 estimates — they lifted FY2026 to $6.37 from $6.15 and bumped Q3 2026 to $1.67 (from $1.64) and Q4 2026 to $1.84 (from $1.79). This signals stronger-than-expected performance in the current fiscal year, which supports NTAP’s near-term valuation. Zacks Research note (12/16)
• Positive Sentiment: Zacks modestly raised Q4 2027 to $1.92 (from $1.89), a small tailwind for late‑year 2027 assumptions. Zacks Research note (12/16)
• Negative Sentiment: Material downward revisions for FY2028 — Zacks cut FY2028 to $7.42 from $7.87. A lower long‑range earnings profile can reduce forward multiples and investor confidence if other firms follow suit. Zacks Research note (12/16)
• Negative Sentiment: Multiple 2027 quarter cuts: Q1 2027 down to $1.42 (from $1.45), Q2 2027 to $1.69 (from $1.71), and a notable Q3 2027 cut to $1.66 (from $1.78). Those bumps-down, especially Q3, suggest Zacks expects weaker mid‑2027 earnings momentum. Zacks Research note (12/16)
• Negative Sentiment: Small cuts to early‑2028 quarters (Q1 2028 to $1.69 and Q2 2028 to $1.85) reinforce the downward tweak to FY2028 and highlight caution about growth beyond FY2026. Zacks Research note (12/16)

NetApp Price Performance

Shares of NetApp stock opened at $111.90 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78. The business’s 50 day simple moving average is $114.00 and its two-hundred day simple moving average is $111.91. The stock has a market capitalization of $22.16 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.47 and a beta of 1.42.

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

NetApp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. Northland Securities set a $137.00 price objective on shares of NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Finally, Citigroup lowered their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.07.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction 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 completion of the transaction, the executive vice president owned 22,628 shares in the company, valued at approximately $2,692,732. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of NetApp stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,433 shares of company stock worth $284,229. 0.28% of the stock is owned by insiders.

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.