LSV Asset Management Trims Position in NetApp, Inc. $NTAP

LSV Asset Management lessened its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.4% in the second quarter, Holdings Channel.com reports. The fund owned 538,463 shares of the data storage provider’s stock after selling 13,400 shares during the period. LSV Asset Management’s holdings in NetApp were worth $57,373,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its holdings in NetApp by 19.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 104 shares in the last quarter. Horizon Investments LLC increased its position in shares of NetApp by 3.8% during the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock valued at $255,000 after buying an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of NetApp by 11.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock valued at $115,000 after buying an additional 107 shares during the period. EWA LLC raised its stake in NetApp by 5.4% in the second quarter. EWA LLC now owns 2,535 shares of the data storage provider’s stock worth $270,000 after buying an additional 131 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its position in NetApp by 0.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 26,827 shares of the data storage provider’s stock valued at $2,356,000 after acquiring an additional 137 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,750 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,529 shares of company stock worth $1,413,069 over the last quarter. Company insiders own 0.28% of the company’s stock.

NetApp Stock Down 2.4%

NetApp stock opened at $106.80 on Tuesday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a fifty day simple moving average of $118.40 and a two-hundred day simple moving average of $109.57. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data 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). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business earned $1.56 earnings per share. The company’s quarterly 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. Equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s payout ratio is presently 36.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTAP. Northland Securities increased their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. William Blair reiterated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Oppenheimer assumed coverage on shares of NetApp in a report on Monday. They set a “market perform” rating on the stock. Finally, Bank of America increased their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, NetApp presently has an average rating of “Hold” and a consensus 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.