NetApp, Inc. $NTAP Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 412,683 shares of the data storage provider’s stock after selling 6,873 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.21% of NetApp worth $43,971,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its position in shares of NetApp by 145.2% in the first quarter. Vontobel Holding Ltd. now owns 12,765 shares of the data storage provider’s stock valued at $1,121,000 after purchasing an additional 7,559 shares during the period. Calamos Advisors LLC raised its position in shares of NetApp by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 71,995 shares of the data storage provider’s stock worth $6,324,000 after purchasing an additional 802 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in NetApp in the 1st quarter valued at about $46,000. Olde Wealth Management LLC acquired a new stake in NetApp in the 1st quarter worth about $29,000. Finally, World Investment Advisors boosted its holdings in NetApp by 11.0% in the 1st quarter. World Investment Advisors now owns 14,403 shares of the data storage provider’s stock worth $1,265,000 after buying an additional 1,427 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a legal 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 stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the transaction, the executive vice president owned 23,628 shares of the company’s stock, valued at $2,922,074.76. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,029 shares of company stock worth $2,444,194 in the last ninety days. 0.28% of the stock is owned by insiders.

NetApp Stock Up 1.9%

Shares of NASDAQ:NTAP opened at $117.78 on Friday. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The stock 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 business has a fifty day moving average of $119.06 and a two-hundred day moving average of $107.36. 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 posted its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm 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, research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, October 3rd. NetApp’s payout ratio is presently 36.75%.

Analysts Set New Price Targets

NTAP has been the subject of a number of research analyst reports. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Citigroup boosted their price target on NetApp from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. raised their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Finally, Argus reaffirmed a “buy” rating and set a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $122.40.

About NetApp

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.