6,623 Shares in NetApp, Inc. $NTAP Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI bought a new position in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, HoldingsChannel reports. The fund bought 6,623 shares of the data storage provider’s stock, valued at approximately $709,000.

A number of other institutional investors also recently bought and sold shares of NTAP. Arrowstreet Capital Limited Partnership raised its holdings in NetApp by 94.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after purchasing an additional 886,485 shares during the period. AQR Capital Management LLC raised its holdings in NetApp by 71.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares during the period. Wellington Management Group LLP raised its holdings in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares during the period. Bank of America Corp DE raised its holdings in NetApp by 83.0% in the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after purchasing an additional 700,467 shares during the period. Finally, Citigroup Inc. raised its holdings in NetApp by 216.1% in the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after purchasing an additional 634,085 shares during the period. 92.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, Citigroup lowered NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus target price of $122.64.

NetApp Stock Performance

Shares of NTAP stock opened at $119.93 on Friday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $126.66. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The firm has a market capitalization of $23.67 billion, a PE ratio of 20.06, a PEG ratio of 3.40 and a beta of 1.28. The stock has a fifty day simple moving average of $105.21 and a two-hundred day simple moving average of $106.50.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, analysts predict that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were given a dividend of $0.52 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 3,000 shares of company stock worth $314,650 in the last ninety 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.