NetApp, Inc. $NTAP Stake Cut by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its holdings in NetApp, Inc. (NASDAQ:NTAP) by 82.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,722 shares of the data storage provider’s stock after selling 196,624 shares during the quarter. Neuberger Berman Group LLC’s holdings in NetApp were worth $5,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rossby Financial LCC boosted its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the third quarter worth about $27,000. SouthState Corp lifted its holdings 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 acquiring an additional 239 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in NetApp in the second quarter valued at approximately $34,000. Finally, Covestor Ltd boosted its stake in NetApp by 48.0% in the third quarter. Covestor Ltd now owns 478 shares of the data storage provider’s stock valued at $57,000 after acquiring an additional 155 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total value of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares in the company, valued at $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup increased their price target on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Barclays upped their price objective on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research note 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, six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.42.

NetApp Stock Down 1.0%

Shares of NetApp stock opened at $101.06 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $126.66. The business’s fifty day moving average price is $102.15 and its two-hundred day moving average price is $110.98. The company has a market capitalization of $19.94 billion, a P/E ratio of 16.90, a PEG ratio of 3.13 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior 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. As a group, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. NetApp’s payout ratio is 34.78%.

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.