Thrivent Financial for Lutherans Sells 40,183 Shares of NetApp, Inc. $NTAP

Thrivent Financial for Lutherans lessened its position in NetApp, Inc. (NASDAQ:NTAP) by 58.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,751 shares of the data storage provider’s stock after selling 40,183 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NetApp were worth $3,406,000 as of its most recent filing with the SEC.

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

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the business’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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the 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 transaction, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. The trade was a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,654 shares of company stock valued at $175,782. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group lifted their target price on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Bank of America boosted their price target on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Barclays increased their price objective on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group began coverage on shares of NetApp in a research report on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.33.

NetApp Stock Up 3.8%

NTAP stock opened at $103.34 on Monday. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78. The business’s 50 day simple moving average is $107.15 and its 200 day simple moving average is $111.65. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $20.47 billion, a PE ratio of 17.97, a PEG ratio of 2.27 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping 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 net margin of 17.73% and a return on equity of 121.28%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 earnings per share. 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, research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

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 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 36.17%.

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.