Ameriprise Financial Inc. Decreases Stock Position in NetApp, Inc. $NTAP

Ameriprise Financial Inc. trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 10.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,156,332 shares of the data storage provider’s stock after selling 740,281 shares during the quarter. Ameriprise Financial Inc. owned 3.08% of NetApp worth $729,284,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ascent Group LLC lifted its stake in NetApp by 1.5% during the third quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock worth $721,000 after purchasing an additional 90 shares during the last quarter. Caliber Wealth Management LLC KS lifted its position in shares of NetApp by 5.0% during the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock worth $249,000 after buying an additional 100 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of NetApp by 2.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock worth $655,000 after buying an additional 106 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of NetApp by 2.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock valued at $537,000 after buying an additional 113 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of NetApp by 0.7% in the 3rd quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock valued at $1,824,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Northland Securities raised its FY2026 and FY2027 EPS forecasts, boosted several quarterly estimates and reiterated a “Strong‑Buy,” lifting the fundamental outlook and supporting buying interest. Northland Research Note (MarketBeat)
• Positive Sentiment: Recent quarterly results and company guidance remain supportive: NetApp beat earnings and revenue expectations in its Feb. 26 report and set FY2026 and Q4 guidance that implies continued cash generation and margin strength. NetApp Earnings & Guidance (MarketBeat)
• Positive Sentiment: NetApp announced a quarterly dividend ($0.52/share, ex‑dividend early April), which supports income investors and signals management confidence in cash flow. Dividend Announcement (MarketBeat)
• Positive Sentiment: Large institutional positions/flows (e.g., Norges Bank stake, Boston Partners, Geode increases) show meaningful investor interest and long‑term conviction from major allocators. Institutional Ownership (MarketBeat)
• Neutral Sentiment: NetApp has underperformed the Nasdaq over the past year — a reminder of valuation/relative‑performance risk even as fundamentals improve. Investors watching relative momentum may remain cautious. Is NetApp Stock Underperforming the Nasdaq?
• Neutral Sentiment: An insider sale: EVP Elizabeth O’Callahan sold 1,000 shares (~$100.7k) on March 10. The transaction is small relative to institutional holdings and management stake, so it’s a monitoring point rather than a clear red flag. Insider Sale Filing (InsiderTrades)

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NTAP shares. UBS Group raised their price objective on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. The Goldman Sachs Group started coverage on NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Citigroup lifted their price target on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Barclays boosted their price objective on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, NetApp currently has a consensus rating of “Hold” and an average target price of $122.42.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total value of $100,670.00. Following the sale, the executive vice president directly owned 20,382 shares in the company, valued at $2,051,855.94. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 3,000 shares of company stock valued at $309,610 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

NetApp Trading Up 1.8%

Shares of NTAP stock opened at $98.66 on Monday. The business’s fifty day moving average price is $101.19 and its 200 day moving average price is $110.58. The firm has a market capitalization of $19.47 billion, a PE ratio of 16.50, a P/E/G ratio of 3.06 and a beta of 1.39. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $126.66.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the firm earned $1.91 EPS. The business’s revenue was up 4.4% on a year-over-year basis. 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, sell-side analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, April 2nd. NetApp’s payout ratio is presently 34.78%.

NetApp 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.