Oppenheimer Asset Management Inc. Reduces Position in NetApp, Inc. $NTAP

Oppenheimer Asset Management Inc. lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,500 shares of the data storage provider’s stock after selling 4,719 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in NetApp were worth $1,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NTAP. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp during the 3rd quarter worth $27,000. Rossby Financial LCC boosted its stake 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 last quarter. JFS Wealth Advisors LLC boosted its stake in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 201 shares during the last quarter. Torren Management LLC purchased a new position in shares of NetApp during the 4th quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of NetApp during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the sale, the executive vice president directly owned 19,382 shares in the company, valued at $1,865,517.50. The trade was a 4.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 3,000 shares of company stock valued at $300,370. Insiders own 0.28% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $110.94 on Tuesday. 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 company has a market cap of $21.89 billion, a P/E ratio of 18.55, a P/E/G ratio of 3.17 and a beta of 1.28. The firm’s fifty day moving average is $102.26 and its two-hundred day moving average is $106.53. NetApp, Inc. has a 52-week low of $91.15 and a 52-week high of $126.66.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. NetApp’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. 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, analysts anticipate that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were issued a $0.52 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp’s payout ratio is 34.78%.

Analyst Ratings Changes

Several research analysts have recently weighed in on NTAP shares. The Goldman Sachs Group assumed coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. Citigroup lifted their target price on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $122.64.

NetApp 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.