NetApp, Inc. $NTAP Shares Sold by Cypress Capital LLC

Cypress Capital LLC cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 31.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,948 shares of the data storage provider’s stock after selling 9,602 shares during the period. Cypress Capital LLC’s holdings in NetApp were worth $2,482,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ascent Group LLC increased its holdings in shares of NetApp by 1.5% in the third quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after purchasing an additional 90 shares during the period. Parkside Financial Bank & Trust grew its position in NetApp by 19.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock valued at $69,000 after buying an additional 104 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in NetApp by 11.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock valued at $115,000 after buying an additional 107 shares during the period. Harbor Capital Advisors Inc. increased its stake in NetApp by 2.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock valued at $537,000 after buying an additional 113 shares during the period. Finally, Main Management ETF Advisors LLC raised its position in NetApp by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 7,330 shares of the data storage provider’s stock worth $781,000 after buying an additional 120 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on NTAP. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. Wells Fargo & Company raised their price objective 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. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Barclays increased their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Finally, Bank of America raised their price target on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.07.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,654 shares of company stock valued at $189,292. Insiders own 0.28% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $104.31 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. The firm’s 50-day simple moving average is $111.43 and its 200 day simple moving average is $112.36. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $127.78. The firm has a market capitalization of $20.66 billion, a PE ratio of 18.14, a P/E/G ratio of 2.35 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last announced its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. 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 predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s dividend payout ratio (DPR) is presently 36.17%.

NetApp Company Profile

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.