Martingale Asset Management L P Sells 130,472 Shares of NetApp, Inc. $NTAP

Martingale Asset Management L P reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 83.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 26,252 shares of the data storage provider’s stock after selling 130,472 shares during the quarter. Martingale Asset Management L P’s holdings in NetApp were worth $2,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Coppell Advisory Solutions LLC boosted its stake in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 100 shares during the period. Utah Retirement Systems lifted its holdings in NetApp by 0.3% during the 4th quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider’s stock worth $3,964,000 after purchasing an additional 100 shares during the last quarter. Horizon Investments LLC lifted its holdings in NetApp by 3.8% during the 1st quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock worth $255,000 after purchasing an additional 107 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in NetApp by 3.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,197 shares of the data storage provider’s stock worth $371,000 after purchasing an additional 117 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $110.52 on Friday. The stock has a market capitalization of $22.14 billion, a PE ratio of 19.46, a P/E/G ratio of 2.48 and a beta of 1.44. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. The business has a fifty day moving average price of $105.83 and a two-hundred day moving average price of $100.54. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.80 EPS. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. As a group, equities analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp’s payout ratio is 36.62%.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the transaction, the chief executive officer owned 296,805 shares of the company’s stock, valued at approximately $30,208,812.90. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total value of $105,900.00. Following the transaction, the executive vice president directly owned 23,251 shares of the company’s stock, valued at $2,462,280.90. This trade represents a 4.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,802 shares of company stock valued at $2,951,604. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on NTAP shares. Wedbush reissued a “neutral” rating and set a $110.00 price target on shares of NetApp in a report on Friday, May 30th. UBS Group dropped their price target on NetApp from $115.00 to $108.00 and set a “neutral” rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. lifted their price target on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Morgan Stanley started coverage on NetApp in a report on Thursday. They set an “equal weight” rating and a $115.00 price target for the company. Finally, Evercore ISI dropped their price target on NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a report on Monday, April 28th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and a consensus target price of $119.86.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.