Bank of New York Mellon Corp Sells 4,740 Shares of NetApp, Inc. $NTAP

Bank of New York Mellon Corp lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,438,314 shares of the data storage provider’s stock after selling 4,740 shares during the quarter. Bank of New York Mellon Corp’s holdings in NetApp were worth $147,269,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in NetApp during the 2nd quarter worth approximately $315,000. Cerity Partners LLC grew its stake in shares of NetApp by 9.9% during the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after acquiring an additional 4,232 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of NetApp by 7.3% during the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after acquiring an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after purchasing an additional 2,277 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

NetApp Price Performance

NASDAQ:NTAP opened at $163.88 on Monday. The stock has a market capitalization of $32.16 billion, a PE ratio of 25.77, a P/E/G ratio of 2.99 and a beta of 1.46. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The firm has a fifty day simple moving average of $153.28 and a 200 day simple moving average of $120.61. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, research analysts expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s payout ratio is 32.70%.

Analyst Ratings Changes

NTAP has been the topic of a number of research reports. Citigroup boosted their price objective on shares of NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Susquehanna raised their target price on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company lifted their price target on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Wedbush increased their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Bank of America raised their price objective on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus price target of $169.33.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,964 shares of company stock worth $8,181,642 over the last 90 days. Company insiders own 0.28% of the company’s stock.

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.