Vanguard Group Inc. Trims Holdings in NetApp, Inc. $NTAP

Vanguard Group Inc. trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 27,198,567 shares of the data storage provider’s stock after selling 529,551 shares during the quarter. Vanguard Group Inc. owned 0.14% of NetApp worth $3,221,942,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NTAP. Harbour Investments Inc. boosted its position in NetApp by 287.9% in the 2nd 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 shares of NetApp during the third quarter valued at approximately $27,000. CVA Family Office LLC boosted its holdings in shares of NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 219 shares during the period. SouthState Corp grew its stake in NetApp by 434.5% in the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 239 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in NetApp in the second quarter worth approximately $34,000. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the subject of several research reports. The Goldman Sachs Group assumed coverage on NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Citigroup lowered their price objective on shares of NetApp from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday. Bank of America increased their target price on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. UBS Group boosted their price target on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Northland Securities set a $137.00 price target on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has an average rating of “Moderate Buy” and a consensus price target of $122.86.

NetApp Stock Performance

Shares of NetApp stock opened at $101.32 on Thursday. The company has a market capitalization of $20.07 billion, a PE ratio of 17.62, a P/E/G ratio of 2.22 and a beta of 1.38. The company has a 50-day simple moving average of $104.96 and a two-hundred day simple moving average of $111.49. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share 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 analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business 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. Research analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders 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 dividend yield of 2.1%. NetApp’s dividend payout ratio is presently 36.17%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.28% of the company’s stock.

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.