Bank of New York Mellon Corp Sells 4,740 Shares of NetApp, Inc. $NTAP

Bank of New York Mellon Corp cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,438,314 shares of the data storage provider’s stock after selling 4,740 shares during the period. Bank of New York Mellon Corp owned about 0.73% of NetApp worth $147,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NTAP. Park Square Financial Group LLC lifted its holdings in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc bought a new position in shares of NetApp in the fourth quarter valued at approximately $30,000. DV Equities LLC bought a new position in shares of NetApp in the fourth quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of NetApp in the 3rd quarter worth approximately $35,000. Finally, Roble Belko & Company Inc acquired a new position in shares of NetApp in the 1st quarter worth approximately $31,000. Institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wall Street Zen lowered NetApp from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 13th. Northland Securities increased their target price on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Susquehanna raised their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $169.33.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $163.88 on Monday. The firm has a market capitalization of $32.16 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83. The firm’s 50-day moving average is $153.28 and its 200-day moving average is $120.61.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities analysts expect that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 52,964 shares of company stock worth $8,181,642. Company insiders own 0.28% of the company’s stock.

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.