Rhumbline Advisers Reduces Stock Position in NetApp, Inc. $NTAP

Rhumbline Advisers cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 22.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 451,378 shares of the data storage provider’s stock after selling 129,277 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of NetApp worth $48,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Manchester Capital Management LLC grew its position in shares of NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares during the last quarter. 1248 Management LLC bought a new stake in NetApp in the first quarter valued at $25,000. Harbour Investments Inc. boosted its holdings in NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in NetApp during the 2nd quarter valued at $28,000. Finally, CVA Family Office LLC raised its holdings in NetApp by 300.0% in the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTAP. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Oppenheimer assumed coverage on NetApp in a report on Monday, November 17th. They set a “market perform” rating on the stock. UBS Group raised their target price on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Finally, Northland Securities upped their price target on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, NetApp presently has an average rating of “Hold” and a consensus price target of $120.43.

Insider Buying and Selling at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the transaction, the executive vice president owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 12,183 shares of company stock worth $1,483,361. 0.28% of the stock is owned by corporate insiders.

NetApp Stock Up 1.5%

NTAP stock opened at $108.96 on Tuesday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $131.30. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The firm has a market cap of $21.75 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. The business has a 50 day moving average of $116.64 and a 200 day moving average of $110.04.

NetApp (NASDAQ:NTAP) last released its 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). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm posted $1.56 earnings per share. The company’s revenue 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. On average, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

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