Truist Financial Corp Buys 6,319 Shares of NetApp, Inc. $NTAP

Truist Financial Corp boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 42.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,037 shares of the data storage provider’s stock after buying an additional 6,319 shares during the quarter. Truist Financial Corp’s holdings in NetApp were worth $2,492,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock valued at $2,954,431,000 after buying an additional 686,188 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 1,024,626 shares during the last quarter. Boston Partners grew its position in shares of NetApp by 108.9% in the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after acquiring an additional 1,536,339 shares during the period. Norges Bank acquired a new position in shares of NetApp during the 2nd quarter worth about $281,093,000. Finally, Amundi raised its holdings in shares of NetApp by 8.4% in the 2nd quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock valued at $237,269,000 after purchasing an additional 182,318 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NTAP shares. Oppenheimer reissued a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Barclays boosted their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report on Thursday, January 22nd. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.33.

NetApp Trading Up 3.8%

Shares of NTAP stock opened at $103.34 on Friday. The stock has a market cap of $20.47 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.38. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $127.78. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The stock has a 50 day simple moving average of $107.15 and a 200 day simple moving average of $111.56.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.17. The firm 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 company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. On average, research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s dividend payout ratio (DPR) is currently 36.17%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $105.49, for a total transaction of $105,490.00. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lorenzo Daniel De sold 327 shares of the firm’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. The SEC filing for this sale provides additional information. Insiders sold a total of 1,654 shares of company stock valued at $175,782 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

NetApp 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.