Penserra Capital Management LLC Sells 6,689 Shares of NetApp, Inc. $NTAP

Penserra Capital Management LLC lowered its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 104,127 shares of the data storage provider’s stock after selling 6,689 shares during the quarter. Penserra Capital Management LLC owned approximately 0.05% of NetApp worth $12,333,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NTAP. Vanguard Group Inc. grew its stake in NetApp by 2.5% in the second quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after purchasing an additional 686,188 shares during the period. Geode Capital Management LLC lifted its position in 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 valued at $756,665,000 after acquiring an additional 1,024,626 shares in the last quarter. Boston Partners boosted its holdings in shares of NetApp by 108.9% during the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after acquiring an additional 1,536,339 shares during the last quarter. Norges Bank bought a new stake in shares of NetApp in the second quarter worth $281,093,000. Finally, Amundi boosted its stake in shares of NetApp by 8.4% during the 2nd quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock worth $237,269,000 after acquiring an additional 182,318 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of a number of recent analyst reports. Citigroup decreased their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Wells Fargo & Company upped their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Wedbush reaffirmed a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Oppenheimer reissued a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Finally, Bank of America upped their target price on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. One research 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, NetApp currently has an average rating of “Moderate Buy” and an average target price of $124.33.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $105.49, for a total value of $105,490.00. Following the sale, the executive vice president directly owned 21,075 shares in the company, valued at approximately $2,223,201.75. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,654 shares of company stock valued at $175,782. Insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NTAP stock opened at $100.53 on Thursday. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78. The business has a 50-day moving average price of $107.51 and a 200 day moving average price of $111.68. The company has a market capitalization of $19.91 billion, a P/E ratio of 17.48, a PEG ratio of 2.11 and a beta of 1.38. 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 (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. 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 forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were issued a $0.52 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. NetApp’s payout ratio is currently 36.17%.

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.