Banque Pictet & Cie SA Sells 9,624 Shares of NetApp, Inc. $NTAP

Banque Pictet & Cie SA trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,143 shares of the data storage provider’s stock after selling 9,624 shares during the period. Banque Pictet & Cie SA’s holdings in NetApp were worth $2,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings 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. Arrowstreet Capital Limited Partnership increased its stake in NetApp by 94.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after purchasing an additional 886,485 shares in the last quarter. AQR Capital Management LLC raised its holdings in NetApp by 71.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after buying an additional 771,835 shares during the period. Wellington Management Group LLP raised its holdings in NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after buying an additional 718,409 shares during the period. Finally, Bank of America Corp DE lifted its stake in NetApp by 83.0% in 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 in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total transaction of $100,670.00. Following the completion of the transaction, the executive vice president directly owned 20,382 shares in the company, valued at $2,051,855.94. This represents a 4.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 3,000 shares of company stock worth $309,610. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTAP. The Goldman Sachs Group began coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Citigroup upped their target price on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $122.42.

NetApp Trading Up 1.3%

NASDAQ:NTAP opened at $103.35 on Friday. The company has a market cap of $20.39 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 3.16 and a beta of 1.30. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $126.66. The business has a 50 day moving average price of $100.80 and a two-hundred day moving average price of $109.09. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s payout ratio is 34.78%.

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.