Bank of New York Mellon Corp Sells 149,758 Shares of NetApp, Inc. $NTAP

Bank of New York Mellon Corp reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,631,592 shares of the data storage provider’s stock after selling 149,758 shares during the period. Bank of New York Mellon Corp’s holdings in NetApp were worth $193,278,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Epoch Investment Partners Inc. grew its holdings in NetApp by 3.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock valued at $192,938,000 after purchasing an additional 66,045 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of NetApp by 515.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock valued at $13,713,000 after buying an additional 96,937 shares during the period. Mirabella Financial Services LLP bought a new position in shares of NetApp during the second quarter valued at approximately $1,044,000. Wright Investors Service Inc. purchased a new stake in shares of NetApp in the third quarter worth approximately $2,701,000. Finally, J. Safra Sarasin Holding AG lifted its stake in shares of NetApp by 496.7% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock worth $2,152,000 after acquiring an additional 15,123 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NTAP opened at $96.35 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The company has a 50 day moving average price of $108.23 and a 200-day moving average price of $111.80. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $127.78. The stock has a market capitalization of $19.08 billion, a PE ratio of 16.76, a PEG ratio of 2.17 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data 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. The company 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%. NetApp’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company 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. Equities analysts predict 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. Investors of record on Friday, January 2nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. NetApp’s dividend payout ratio (DPR) is presently 36.17%.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $105.49, for a total value of $105,490.00. Following the transaction, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction dated Monday, November 17th. The shares were 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. Insiders sold 1,654 shares of company stock worth $175,782 in the last quarter. 0.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup cut their price objective on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Bank of America boosted their target price 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. UBS Group raised their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. Finally, Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. One research 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 company’s stock. According to MarketBeat, NetApp presently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

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.