NetApp, Inc. $NTAP Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,166,845 shares of the data storage provider’s stock after selling 335,245 shares during the period. Primecap Management Co. CA owned 5.57% of NetApp worth $1,189,827,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of NetApp by 19.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 104 shares during the period. Horizon Investments LLC increased its position 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 in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in NetApp by 11.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock valued at $115,000 after buying an additional 107 shares in the last quarter. EWA LLC lifted its position in NetApp by 5.4% during the second quarter. EWA LLC now owns 2,535 shares of the data storage provider’s stock valued at $270,000 after buying an additional 131 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of NetApp by 0.5% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,827 shares of the data storage provider’s stock worth $2,356,000 after acquiring an additional 137 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Down 0.4%

Shares of NetApp stock opened at $106.40 on Wednesday. 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 business has a 50-day moving average price of $118.06 and a 200 day moving average price of $109.67. 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 $21.24 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $1.56 earnings per share. NetApp’s revenue 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. On average, sell-side 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 $0.52 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the sale, the executive vice president owned 22,628 shares in the company, valued at $2,692,732. The trade was a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,529 shares of company stock worth $1,413,069 in the last ninety days. 0.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NTAP shares. Argus restated a “buy” rating and set a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Bank of America boosted their price objective on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Citigroup lowered their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. William Blair reissued a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Finally, Morgan Stanley set a $117.00 price objective on shares of NetApp in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.07.

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.