Vanguard Group Inc. Cuts Stake in NetApp, Inc. $NTAP

Vanguard Group Inc. cut its position in NetApp, Inc. (NASDAQ:NTAP) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,198,567 shares of the data storage provider’s stock after selling 529,551 shares during the period. Vanguard Group Inc. owned approximately 13.63% of NetApp worth $3,221,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of NetApp by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock worth $51,266,000 after purchasing an additional 20,089 shares during the period. National Pension Service increased its holdings in NetApp by 26.0% during the third quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after buying an additional 32,833 shares during the last quarter. Epoch Investment Partners Inc. raised its position in NetApp by 3.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock worth $192,938,000 after acquiring an additional 66,045 shares during the period. J. Safra Sarasin Holding AG raised its position in NetApp by 496.7% in the third 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 period. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of NetApp by 515.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock worth $13,713,000 after acquiring an additional 96,937 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total value of $103,450.00. Following the sale, the executive vice president directly owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.28% of the company’s stock.

NetApp Stock Up 0.2%

Shares of NASDAQ:NTAP opened at $101.32 on Thursday. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.22 and a beta of 1.38. NetApp, Inc. has a 12 month low of $71.84 and a 12 month 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 company has a 50-day moving average price of $104.96 and a 200 day moving average price of $111.49.

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 analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate 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 prior 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. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NTAP shares. Northland Securities set a $137.00 price objective on NetApp and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Citigroup reduced their price target on NetApp from $125.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Finally, Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.86.

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.