NetApp, Inc. $NTAP Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 257,361 shares of the data storage provider’s stock after selling 23,241 shares during the quarter. Bank of Montreal Can’s holdings in NetApp were worth $27,422,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in NetApp by 4,687.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock worth $93,874,000 after purchasing an additional 1,046,372 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of NetApp by 1,230.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after buying an additional 931,850 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NetApp by 2.3% in the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after buying an additional 597,956 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NetApp by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after acquiring an additional 560,218 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in NetApp by 97.7% during the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock valued at $96,293,000 after acquiring an additional 541,837 shares during the last quarter. Hedge funds and other institutional investors 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 the stock in a transaction dated 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 $2,692,732. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 21,029 shares of company stock worth $2,444,194. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NTAP shares. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Wedbush reaffirmed a “neutral” rating and set a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Barclays boosted their price objective on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their target price on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Morgan Stanley set a $117.00 target price on NetApp in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $122.40.

NetApp Price Performance

NTAP opened at $113.77 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The company’s 50-day moving average price is $119.26 and its 200 day moving average price is $108.10. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a market cap of $22.71 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46.

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

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were paid a $0.52 dividend. 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 (DPR) is presently 36.75%.

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.