Mutual of America Capital Management LLC Sells 6,443 Shares of NetApp, Inc. $NTAP

Mutual of America Capital Management LLC cut its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 17.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 31,103 shares of the data storage provider’s stock after selling 6,443 shares during the period. Mutual of America Capital Management LLC’s holdings in NetApp were worth $3,314,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Achmea Investment Management B.V. boosted its position in shares of NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock valued at $19,492,000 after purchasing an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in shares of NetApp during the first quarter valued at approximately $321,000. UNICOM Systems Inc. bought a new stake in shares of NetApp during the first quarter valued at approximately $13,483,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NetApp by 20.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider’s stock valued at $5,247,000 after purchasing an additional 10,080 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of NetApp by 6.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,428 shares of the data storage provider’s stock valued at $3,727,000 after purchasing an additional 2,682 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NTAP has been the subject of a number of recent research reports. William Blair reiterated a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Citigroup lifted their price objective on NetApp from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Bank of America lifted their price objective on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. UBS Group lifted their price objective on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Finally, Argus reiterated a “buy” rating and set a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.40.

NetApp Stock Up 0.9%

NTAP stock opened at $117.79 on Friday. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The business has a fifty day moving average price of $118.18 and a 200-day moving average price of $105.59. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The stock has a market capitalization of $23.51 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.54 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, October 3rd. NetApp’s dividend payout ratio is 36.75%.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,029 shares of company stock worth $2,444,194. 0.28% of the stock is owned by insiders.

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.