NetApp, Inc. $NTAP Stake Lessened by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.06% of NetApp worth $1,189,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTAP. Vanguard Group Inc. raised its stake in shares of NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after buying an additional 686,188 shares in the last quarter. Geode Capital Management LLC grew its holdings in NetApp by 16.8% during the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after acquiring an additional 1,024,626 shares during the period. Ameriprise Financial Inc. raised its position in NetApp by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after acquiring an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after acquiring an additional 560,218 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of NetApp by 12.3% during the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock valued at $308,107,000 after purchasing an additional 384,362 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. The trade was a 4.06% 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 valued at $1,413,069 in the last three months. Company insiders own 0.28% of the company’s stock.

NetApp Stock Down 0.4%

NTAP stock opened at $106.40 on Wednesday. The company has a 50 day moving average of $118.06 and a two-hundred day moving average of $109.67. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 2.48 and a beta of 1.46. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data 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 quarter in the prior year, the business posted $1.56 earnings per share. NetApp’s 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, equities analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research reports. William Blair restated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Northland Securities raised their price objective on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Citigroup reduced their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Oppenheimer initiated coverage on NetApp in a research note on Monday. They issued a “market perform” rating on the stock. Finally, Morgan Stanley set a $117.00 target price on shares of NetApp in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.07.

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.