AustralianSuper Pty Ltd Sells 66,777 Shares of NetApp, Inc. $NTAP

AustralianSuper Pty Ltd lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 18.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 293,409 shares of the data storage provider’s stock after selling 66,777 shares during the quarter. AustralianSuper Pty Ltd’s holdings in NetApp were worth $34,757,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Harbour Investments Inc. raised its position in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 190 shares during the period. Harbor Asset Planning Inc. bought a new stake in NetApp in the second quarter valued at approximately $28,000. CVA Family Office LLC raised its holdings in NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 219 shares during the period. SouthState Corp boosted its position in shares of NetApp by 434.5% during the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 239 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of NetApp in the 2nd quarter valued at $34,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NTAP shares. The Goldman Sachs Group began coverage on NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. Barclays raised their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Wedbush reissued a “neutral” rating and set a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Citigroup cut their price target 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. Finally, Bank of America increased their price objective on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

NetApp Price Performance

NASDAQ NTAP opened at $99.33 on Thursday. The firm’s 50 day moving average is $108.55 and its 200-day moving average is $111.95. 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 company has a market capitalization of $19.67 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.38. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78.

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

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were paid a dividend of $0.52 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. NetApp’s dividend payout ratio is currently 36.17%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the sale, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the business’s 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,654 shares of company stock valued at $175,782. 0.28% of the stock is currently owned by insiders.

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.