Truist Financial Corp Has $2.49 Million Stock Position in NetApp, Inc. $NTAP

Truist Financial Corp boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 42.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,037 shares of the data storage provider’s stock after purchasing an additional 6,319 shares during the quarter. Truist Financial Corp’s holdings in NetApp were worth $2,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Harbour Investments Inc. boosted its stake in NetApp by 287.9% in the second 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 during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of NetApp in the 2nd quarter worth $28,000. CVA Family Office LLC boosted its position in shares of NetApp by 300.0% in the 2nd 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 last quarter. SouthState Corp grew its stake in shares of 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 purchasing an additional 239 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in NetApp in the second quarter valued at about $34,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays raised their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Oppenheimer restated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Northland Securities set a $137.00 price target on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, NetApp currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

NetApp Stock Up 3.8%

NetApp stock opened at $103.34 on Friday. The company has a 50 day moving average of $107.15 and a 200-day moving average of $111.56. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $127.78. The stock has a market capitalization of $20.47 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous 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. On average, equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were issued a dividend of $0.52 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.0%. NetApp’s dividend payout ratio (DPR) is presently 36.17%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 21,075 shares in the company, valued at approximately $2,223,201.75. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,654 shares of company stock worth $175,782. 0.28% of the stock is owned by insiders.

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.