NetApp, Inc. $NTAP Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,526 shares of the data storage provider’s stock after selling 133 shares during the period. Balboa Wealth Partners’ holdings in NetApp were worth $269,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Forvis Mazars Wealth Advisors LLC purchased a new stake in NetApp in the second quarter valued at approximately $258,000. Chicago Partners Investment Group LLC acquired a new position in shares of NetApp in the 2nd quarter valued at $242,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of NetApp in the 2nd quarter valued at $29,237,000. Chevy Chase Trust Holdings LLC grew its stake in shares of NetApp by 0.8% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 107,440 shares of the data storage provider’s stock valued at $11,448,000 after buying an additional 815 shares during the period. Finally, Arista Wealth Management LLC acquired a new stake in shares of NetApp during the 2nd quarter worth $214,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTAP shares. Morgan Stanley set a $117.00 target price on NetApp in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Barclays increased their target price on shares of NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Wedbush reaffirmed a “neutral” rating and set a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Finally, UBS Group boosted their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $122.40.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $119.08 on Wednesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The business’s 50-day simple moving average is $117.87 and its 200 day simple moving average is $105.23. The company has a market cap of $23.77 billion, a P/E ratio of 21.04, a PEG ratio of 2.55 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data 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 firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 EPS. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be issued a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. NetApp’s payout ratio is currently 36.75%.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction that occurred on Thursday, September 25th. The stock was 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 this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the transaction, the executive vice president owned 23,628 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 21,029 shares of company stock valued at $2,444,194 in the last ninety days. Insiders own 0.28% of the company’s stock.

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.