NetApp, Inc. $NTAP Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,555 shares of the data storage provider’s stock after selling 804 shares during the quarter. Meritage Portfolio Management’s holdings in NetApp were worth $4,428,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NTAP. Manchester Capital Management LLC boosted its holdings in shares of NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 225 shares during the last quarter. 1248 Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at $25,000. Olde Wealth Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of NetApp in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays lifted their price target on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Argus reissued a “buy” rating and issued a $130.00 target price on shares of NetApp in a research note on Friday, August 29th. Citigroup raised their target price on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $121.40.

NetApp Stock Performance

NetApp stock opened at $113.94 on Friday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a market capitalization of $22.74 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.48 and a beta of 1.45. 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 firm’s fifty day moving average price is $115.80 and its 200 day moving average price is $103.63.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) 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 firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $1.56 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Insider Buying and Selling

In related news, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on 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 sale, the chief executive officer 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 filing with the SEC, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold 28,529 shares of company stock valued at $3,243,874 in the last quarter. Company insiders own 0.28% of the company’s stock.

About NetApp

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.