NetApp (NASDAQ:NTAP) Stock Price Down 7.3% – Here’s Why

NetApp, Inc. (NASDAQ:NTAP) fell 7.3% on Tuesday . The stock traded as low as $97.53 and last traded at $96.2860. 464,817 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 2,070,587 shares. The stock had previously closed at $103.84.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NTAP shares. Wedbush reaffirmed a “neutral” rating and set a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Barclays boosted their price objective on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. William Blair reaffirmed a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Finally, Citigroup dropped their price objective on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of “Moderate Buy” and an average price target of $124.33.

NetApp Trading Down 9.4%

The stock has a 50 day moving average of $110.04 and a 200 day moving average of $112.41. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a market cap of $18.63 billion, a P/E ratio of 16.35, a PEG ratio of 2.29 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.88 by $0.17. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company 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. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s dividend payout ratio (DPR) is 36.17%.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $105,490.00. Following the transaction, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,654 shares of company stock valued at $175,782 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NetApp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. increased its position in shares of NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after buying an additional 190 shares during the period. Abich Financial Wealth Management LLC bought a new stake in NetApp during the 3rd quarter valued at approximately $27,000. Rossby Financial LCC grew its holdings in shares of NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of NetApp during the 2nd quarter worth approximately $28,000. Finally, CVA Family Office LLC raised its position in shares of NetApp by 300.0% in the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 219 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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.