Barclays PLC Reduces Stake in NetApp, Inc. $NTAP

Barclays PLC lessened its holdings in NetApp, Inc. (NASDAQ:NTAP) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 571,548 shares of the data storage provider’s stock after selling 57,563 shares during the quarter. Barclays PLC owned about 0.29% of NetApp worth $67,706,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in NetApp by 4.9% during the third quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after purchasing an additional 20,089 shares during the period. Citigroup Inc. grew its position in NetApp by 216.1% during the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after purchasing an additional 634,085 shares during the period. National Pension Service raised its stake in shares of NetApp by 26.0% during the 3rd quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after buying an additional 32,833 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of NetApp by 3.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider’s stock valued at $192,938,000 after buying an additional 66,045 shares during the last quarter. Finally, J. Safra Sarasin Holding AG lifted its holdings in shares of NetApp by 496.7% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after buying an additional 15,123 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Down 1.0%

Shares of NTAP opened at $101.06 on Monday. The firm has a market cap of $19.94 billion, a P/E ratio of 16.90, a PEG ratio of 3.13 and a beta of 1.39. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $126.66. The stock’s 50 day moving average is $102.15 and its two-hundred day moving average is $111.00. The company has a current ratio of 1.39, a quick ratio of 1.36 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 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business 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. Analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s payout ratio is presently 34.78%.

Analyst Ratings Changes

A number of analysts have recently commented on NTAP shares. Barclays upped their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Citigroup boosted their price target on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Oppenheimer reissued a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Finally, UBS Group lifted their price objective on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, NetApp has a consensus rating of “Moderate Buy” and an average price target of $122.42.

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.