AustralianSuper Pty Ltd Sells 66,777 Shares of NetApp, Inc. $NTAP

AustralianSuper Pty Ltd decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293,409 shares of the data storage provider’s stock after selling 66,777 shares during the quarter. AustralianSuper Pty Ltd owned about 0.15% of NetApp worth $34,757,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NTAP. Vanguard Group Inc. increased its position in NetApp by 2.5% during 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 acquiring an additional 686,188 shares during the period. Geode Capital Management LLC grew 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 worth $756,665,000 after purchasing an additional 1,024,626 shares during the last quarter. Boston Partners increased 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 worth $313,997,000 after purchasing an additional 1,536,339 shares during the period. Norges Bank acquired a new position in shares of NetApp during the second quarter valued at about $281,093,000. Finally, Amundi lifted its stake in shares of NetApp by 8.4% in the second quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock valued at $237,269,000 after buying an additional 182,318 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on NTAP. The Goldman Sachs Group started coverage on NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Thursday, January 22nd. Bank of America lifted their price target on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Finally, William Blair reiterated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, NetApp presently has a consensus rating of “Moderate Buy” and an average target price of $124.33.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 327 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $105,490.00. Following the sale, the executive vice president directly owned 21,075 shares of the company’s stock, valued at approximately $2,223,201.75. This trade represents a 4.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,654 shares of company stock worth $175,782. 0.28% of the stock is owned by company insiders.

NetApp Stock Performance

NASDAQ:NTAP opened at $99.33 on Thursday. The stock has a market capitalization of $19.67 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.38. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $127.78. The firm has a 50 day moving average of $108.55 and a 200-day moving average of $111.95.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The business’s revenue was up 2.8% on a year-over-year basis. During the same period 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, sell-side analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s dividend payout ratio is 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.