NetApp, Inc. $NTAP Stake Lowered by American Century Companies Inc.

American Century Companies Inc. decreased its stake in NetApp, Inc. (NASDAQ:NTAP) by 42.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,407 shares of the data storage provider’s stock after selling 82,939 shares during the period. American Century Companies Inc. owned 0.06% of NetApp worth $11,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in NetApp in the first quarter valued at $25,000. Harbour Investments Inc. grew its position in shares of NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of NetApp in the 2nd quarter worth about $28,000. CVA Family Office LLC raised its holdings in shares of NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after buying an additional 219 shares during the last quarter. Finally, SouthState Corp raised its stake in NetApp by 434.5% during the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 239 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research analyst reports. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Barclays raised their target price on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Finally, Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the sale, the executive vice president directly owned 22,628 shares in the company, valued at approximately $2,692,732. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 12,183 shares of company stock valued at $1,483,361. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NetApp stock opened at $115.99 on Friday. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $131.30. The firm’s 50 day simple moving average is $114.83 and its 200-day simple moving average is $110.66. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The company has a market cap of $22.97 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $1.87 EPS. The company’s revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, equities research analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s payout ratio is presently 36.17%.

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.