Spire Wealth Management Sells 2,870 Shares of NetApp, Inc. $NTAP

Spire Wealth Management lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 76.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 871 shares of the data storage provider’s stock after selling 2,870 shares during the period. Spire Wealth Management’s holdings in NetApp were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in NetApp by 2.3% during the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after buying an additional 597,956 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NetApp by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock valued at $623,383,000 after acquiring an additional 72,223 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NetApp by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after purchasing an additional 560,218 shares in the last quarter. Invesco Ltd. increased its position in shares of NetApp by 12.3% in the first quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock worth $308,107,000 after purchasing an additional 384,362 shares during the period. Finally, Amundi increased its position in shares of NetApp by 11.8% in the first quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock worth $183,209,000 after purchasing an additional 230,793 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 21,029 shares of company stock valued at $2,444,194. Insiders own 0.28% of the company’s stock.

NetApp Price Performance

Shares of NTAP opened at $115.69 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The stock has a market cap of $23.09 billion, a PE ratio of 20.44, a PEG ratio of 2.48 and a beta of 1.45. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The business has a 50-day simple moving average of $119.33 and a two-hundred day simple moving average of $108.06.

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

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.8%. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

Analyst Ratings Changes

Several research firms recently weighed in on NTAP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. William Blair reaffirmed a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Argus reiterated a “buy” rating and set a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. Barclays lifted their price objective 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, Wedbush restated a “neutral” rating and set a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.40.

NetApp Company 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.