Federated Hermes Inc. Has $83.56 Million Holdings in NetApp, Inc. $NTAP

Federated Hermes Inc. lessened its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 705,356 shares of the data storage provider’s stock after selling 188,476 shares during the period. Federated Hermes Inc. owned approximately 0.35% of NetApp worth $83,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NTAP. Geneos Wealth Management Inc. grew its holdings in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of NetApp in the second quarter valued at about $315,000. Farther Finance Advisors LLC boosted its position in shares of NetApp by 60.2% in the second quarter. Farther Finance Advisors LLC now owns 1,828 shares of the data storage provider’s stock valued at $195,000 after acquiring an additional 687 shares during the period. Signaturefd LLC grew its stake in shares of NetApp by 72.5% in the second quarter. Signaturefd LLC now owns 4,853 shares of the data storage provider’s stock valued at $517,000 after acquiring an additional 2,039 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in shares of NetApp in the second quarter valued at about $302,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $105.49, for a total transaction of $105,490.00. Following the completion of the sale, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. This represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,654 shares of company stock worth $175,782 over the last ninety days. 0.28% of the stock is currently owned by insiders.

NetApp Stock Down 0.6%

Shares of NTAP opened at $99.33 on Thursday. The firm has a 50 day simple moving average of $108.55 and a two-hundred day simple moving average of $111.95. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78. The company has a market cap of $19.67 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.21 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company posted $1.87 EPS. The company’s revenue for the quarter 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. Research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, January 2nd. NetApp’s dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of recent research reports. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Barclays increased their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. UBS Group lifted their price objective on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Wells Fargo & Company upped their target price on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.33.

NetApp Company 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.