NetApp, Inc. $NTAP Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,474 shares of the data storage provider’s stock after selling 6,628 shares during the period. Cim Investment Management Inc.’s holdings in NetApp were worth $767,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total value of $100,670.00. Following the completion of the sale, the executive vice president owned 20,382 shares in the company, valued at approximately $2,051,855.94. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 3,000 shares of company stock worth $309,610. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NTAP. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Wells Fargo & Company increased their target price on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. Northland Securities set a $137.00 price target on shares of NetApp and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Barclays boosted their price target on shares of NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Citigroup upped their price objective on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.42.

NetApp Stock Performance

NASDAQ NTAP opened at $101.92 on Wednesday. The stock has a fifty day simple moving average of $101.04 and a 200-day simple moving average of $110.40. 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 has a market cap of $20.11 billion, a PE ratio of 17.04, a P/E/G ratio of 3.17 and a beta of 1.39. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $126.66.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm 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. NetApp’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. Equities analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, April 2nd. NetApp’s dividend payout ratio is currently 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.