NetApp, Inc. $NTAP Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced 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 SEC. The institutional investor owned 293,409 shares of the data storage provider’s stock after selling 66,777 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.15% of NetApp worth $34,757,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NTAP. Norges Bank acquired a new position in NetApp in the second quarter valued at approximately $281,093,000. Boston Partners boosted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,024,626 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of NetApp by 103.6% in 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 buying an additional 907,233 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in 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 acquiring an additional 700,467 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 1.4%

NASDAQ:NTAP opened at $98.79 on Wednesday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $126.66. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The stock’s 50 day simple moving average is $102.70 and its 200-day simple moving average is $111.17. The firm has a market cap of $19.49 billion, a P/E ratio of 16.52, a PEG ratio of 3.15 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company’s revenue for the quarter was up 4.4% on a year-over-year basis. 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. Equities 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 will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. NetApp’s payout ratio is presently 34.78%.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Bank of America upped their target price on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. The Goldman Sachs Group started coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. Finally, Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.42.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.28% of the stock is currently owned by company insiders.

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.