US Bancorp DE Sells 1,145 Shares of NetApp, Inc. $NTAP

US Bancorp DE lessened its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,284 shares of the data storage provider’s stock after selling 1,145 shares during the quarter. US Bancorp DE’s holdings in NetApp were worth $1,629,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Manchester Capital Management LLC raised its stake in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 225 shares in the last quarter. 1248 Management LLC bought a new position in shares of NetApp during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC bought a new position in shares of NetApp during the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of NetApp during the 1st quarter worth approximately $36,000. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the transaction, the executive vice president directly owned 23,628 shares of the company’s stock, valued at $2,922,074.76. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the sale, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,529 shares of company stock valued at $3,362,874 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. Northland Securities upped their price target on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Barclays upped their price target on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley set a $117.00 price objective on shares of NetApp in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $122.40.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $119.40 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company has a market capitalization of $23.83 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.64 and a beta of 1.45. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company’s fifty day moving average price is $117.16 and its 200 day moving average price is $104.38.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.35). The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.