Mitsubishi UFJ Trust & Banking Corp Has $59.77 Million Stock Position in NetApp, Inc. $NTAP

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 560,921 shares of the data storage provider’s stock after selling 1,274 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in NetApp were worth $59,766,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 225 shares in the last quarter. 1248 Management LLC bought a new position in shares of NetApp in the first quarter valued at approximately $25,000. Harbour Investments Inc. boosted its position in shares of NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in NetApp during the second quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In related news, CEO George Kurian sold 8,750 shares of the business’s 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 sale, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The transaction was disclosed in a document filed 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 shares were sold at an average price of $123.67, for a total transaction 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. This trade represents a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 20,029 shares of company stock worth $2,338,294. 0.28% of the stock is owned by corporate insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $111.57 on Thursday. The firm has a market capitalization of $22.27 billion, a PE ratio of 19.71, a P/E/G ratio of 2.48 and a beta of 1.46. 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 company has a 50-day moving average price of $119.06 and a two-hundred day moving average price of $109.01. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp (NASDAQ:NTAP) last posted 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). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last 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. Equities analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

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

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent analyst reports. Northland Securities raised their price target on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Citigroup dropped their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Morgan Stanley set a $117.00 price objective on NetApp in a research report on Thursday, August 28th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $122.07.

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.