Allianz Asset Management GmbH Reduces Stake in NetApp, Inc. $NTAP

Allianz Asset Management GmbH reduced its holdings in NetApp, Inc. (NASDAQ:NTAP) by 23.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 979,878 shares of the data storage provider’s stock after selling 300,549 shares during the quarter. Allianz Asset Management GmbH owned about 0.49% of NetApp worth $116,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in NetApp in the second quarter valued at $281,093,000. Boston Partners lifted its position in shares of NetApp by 108.9% in the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after purchasing an additional 1,536,339 shares during the period. Geode Capital Management LLC lifted its position in shares of NetApp by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after purchasing an additional 1,024,626 shares during the period. Pacer Advisors Inc. boosted its stake in shares of NetApp by 103.6% during the 3rd quarter. Pacer Advisors Inc. now owns 1,783,103 shares of the data storage provider’s stock valued at $211,226,000 after purchasing an additional 907,233 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of NetApp by 83.0% during the second quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock valued at $164,568,000 after buying an additional 700,467 shares during the period. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction on Monday, November 17th. The stock was 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 SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the transaction, the executive vice president owned 21,075 shares of the company’s stock, valued at $2,223,201.75. This represents a 4.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,654 shares of company stock worth $175,782. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Performance

Shares of NTAP opened at $95.49 on Wednesday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $127.78. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. The stock has a market cap of $18.91 billion, a P/E ratio of 16.61, a P/E/G ratio of 2.15 and a beta of 1.38. The business’s 50 day moving average price is $107.68 and its 200-day moving average price is $111.75.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. The firm’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. Equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, January 2nd. NetApp’s dividend payout ratio is currently 36.17%.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. Bank of America raised their price objective on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Wedbush reissued a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research report on Friday, October 10th. The Goldman Sachs Group started coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Citigroup dropped their price target on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, UBS Group upped their price target on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.33.

About NetApp

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.