NetApp, Inc. $NTAP Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 64.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,373 shares of the data storage provider’s stock after selling 11,352 shares during the quarter. Shell Asset Management Co.’s holdings in NetApp were worth $755,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NTAP. Vanguard Group Inc. increased its stake in NetApp by 2.5% during the second quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after acquiring an additional 686,188 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NetApp by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after purchasing an additional 1,024,626 shares during the last quarter. Boston Partners grew its holdings in shares of NetApp by 108.9% during the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after purchasing an additional 1,536,339 shares during the period. Norges Bank purchased a new position in shares of NetApp during the 2nd quarter worth $281,093,000. Finally, Amundi increased its position in shares of NetApp by 8.4% during the 2nd quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock worth $237,269,000 after purchasing an additional 182,318 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

NetApp stock opened at $102.42 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $127.78. The firm has a market cap of $20.29 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.25 and a beta of 1.39. The company’s 50 day moving average is $105.64 and its two-hundred day moving average is $111.56.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, research analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. NetApp’s dividend payout ratio (DPR) is currently 36.17%.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’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 completion of the transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NTAP shares. Citigroup decreased their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Oppenheimer restated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wells Fargo & Company lifted their target price on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. UBS Group boosted their target price on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.93.

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.