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

Meritage Portfolio Management reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.9% in the 2nd quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NTAP. Manchester Capital Management LLC grew its holdings in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 225 shares in the last quarter. 1248 Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at about $25,000. Olde Wealth Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at about $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 buying an additional 124 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of NetApp in the 1st quarter valued at about $36,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetApp news, 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. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the sale, the executive vice president owned 23,628 shares in the company, valued at $2,922,074.76. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,529 shares of company stock worth $3,243,874. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on NTAP shares. 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Bank of America lifted their price target on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Finally, Morgan Stanley set a $117.00 price target on shares of NetApp in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.40.

NetApp Trading Down 5.3%

NetApp stock opened at $113.94 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 firm has a 50-day moving average price of $115.80 and a two-hundred day moving average price of $103.63. The firm has a market capitalization of $22.74 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.48 and a beta of 1.45. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45.

NetApp (NASDAQ:NTAP) last posted its 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). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter 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. Sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

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