NetApp, Inc. $NTAP Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,177 shares of the data storage provider’s stock after selling 394 shares during the period. Yousif Capital Management LLC’s holdings in NetApp were worth $2,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NTAP. Pacer Advisors Inc. raised its position in shares of NetApp by 4,687.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock valued at $93,874,000 after acquiring an additional 1,046,372 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock valued at $107,359,000 after acquiring an additional 931,850 shares in the last quarter. Vanguard Group Inc. raised its position in shares of NetApp by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after acquiring an additional 597,956 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NetApp by 18.8% during 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 in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of NetApp by 97.7% during the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider’s stock valued at $96,293,000 after acquiring an additional 541,837 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,529 shares of company stock valued at $3,362,874. 0.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Northland Securities upped 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. Morgan Stanley set a $117.00 price objective on NetApp in a research note on Thursday, August 28th. Finally, Wedbush restated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.40.

NetApp Trading Down 0.3%

NASDAQ:NTAP opened at $119.07 on Friday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The stock has a market cap of $23.77 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.59 and a beta of 1.45. The business has a fifty day moving average of $117.42 and a 200-day moving average of $104.59. 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 (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 business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $1.56 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp’s dividend payout ratio is presently 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.