GHP Investment Advisors Inc. Trims Position in NetApp, Inc. $NTAP

GHP Investment Advisors Inc. cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,643 shares of the data storage provider’s stock after selling 3,596 shares during the period. GHP Investment Advisors Inc. owned 0.06% of NetApp worth $12,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burns Matteson Capital Management LLC purchased a new stake in NetApp in the first quarter worth $321,000. UNICOM Systems Inc. purchased a new stake in NetApp in the first quarter worth $13,483,000. Citizens Financial Group Inc. RI boosted its holdings in NetApp by 6.5% in the first quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock worth $5,311,000 after acquiring an additional 3,704 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in NetApp by 17.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock worth $71,563,000 after acquiring an additional 122,784 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in NetApp by 119.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after acquiring an additional 3,193 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Trading Up 1.9%

Shares of NASDAQ:NTAP opened at $117.78 on Friday. The company has a market cap of $23.51 billion, a P/E ratio of 20.81, a PEG 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. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The stock’s fifty day moving average price is $119.06 and its 200-day moving average price is $107.36.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). The business 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 company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current 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%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wedbush reissued a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Morgan Stanley set a $117.00 target price on NetApp in a report on Thursday, August 28th. Citigroup boosted their target price on NetApp from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. boosted 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, Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $122.40.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Friday, October 10th. The stock was 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 approximately $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. Additional details regarding this sale are available in the official SEC disclosure. 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 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.