Todd Asset Management LLC Sells 12,202 Shares of NetApp, Inc. $NTAP

Todd Asset Management LLC lessened its position in NetApp, Inc. (NASDAQ:NTAP) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,024 shares of the data storage provider’s stock after selling 12,202 shares during the quarter. Todd Asset Management LLC’s holdings in NetApp were worth $22,170,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its holdings in NetApp by 22.0% in the 4th quarter. Swedbank AB now owns 97,086 shares of the data storage provider’s stock worth $10,397,000 after acquiring an additional 17,520 shares during the period. Jefferies Financial Group Inc. bought a new position in NetApp in the 4th quarter worth $14,869,000. LSV Asset Management raised its holdings in NetApp by 5.7% in the 4th quarter. LSV Asset Management now owns 545,194 shares of the data storage provider’s stock worth $58,385,000 after acquiring an additional 29,186 shares during the period. Mizuho Markets Cayman LP bought a new position in NetApp in the 4th quarter worth $3,875,000. Finally, Global Retirement Partners LLC raised its holdings in NetApp by 76.7% in the 4th quarter. Global Retirement Partners LLC now owns 2,818 shares of the data storage provider’s stock worth $302,000 after acquiring an additional 1,223 shares during the period. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,275 shares of company stock valued at $347,650. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on NTAP shares. Bank of America lifted their target price on shares of NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of NetApp in a research report on Wednesday, February 25th. Citigroup lowered shares of NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday, May 14th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, Wall Street Zen lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $122.27.

NetApp Price Performance

NASDAQ:NTAP opened at $139.36 on Monday. The firm has a market cap of $27.50 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $141.75. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The company’s 50-day moving average price is $107.72 and its two-hundred day moving average price is $106.73.

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

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.5%. NetApp’s payout ratio is currently 34.78%.

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.