Axa S.A. Sells 363,414 Shares of NetApp, Inc. $NTAP

Axa S.A. cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 57.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,237 shares of the data storage provider’s stock after selling 363,414 shares during the period. Axa S.A. owned approximately 0.13% of NetApp worth $28,154,000 as of its most recent SEC filing.

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

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the completion of the sale, the executive vice president directly owned 22,628 shares in the company, valued at $2,692,732. This represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,183 shares of company stock worth $1,359,691 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

NetApp Price Performance

NTAP opened at $117.30 on Wednesday. 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 stock has a market capitalization of $23.23 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 2.60 and a beta of 1.42. The company’s 50 day simple moving average is $114.74 and its 200-day simple moving average is $111.17. NetApp, Inc. has a one year low of $71.84 and a one year high of $128.53.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business posted $1.87 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Sell-side analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Bank of America raised their price target on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. William Blair reaffirmed a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Wedbush reissued a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.07.

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.