NetApp, Inc. $NTAP Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 36.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,525 shares of the data storage provider’s stock after selling 8,826 shares during the quarter. Banque Cantonale Vaudoise’s holdings in NetApp were worth $1,663,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTAP. Geneos Wealth Management Inc. boosted its holdings in shares of NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after acquiring an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of NetApp in the second quarter valued at approximately $315,000. Cerity Partners LLC boosted its holdings in shares of NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia boosted its holdings in shares of NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after acquiring an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after acquiring an additional 2,277 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup cut NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday, May 14th. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. cut NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Finally, Wall Street Zen cut NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $122.27.

NetApp Price Performance

NetApp stock opened at $123.94 on Friday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $126.66. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The business has a 50 day simple moving average of $106.88 and a 200-day simple moving average of $106.57. The stock has a market capitalization of $24.46 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities analysts predict that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a $0.52 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. NetApp’s dividend payout ratio is presently 34.78%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at approximately $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $130,800. The trade was a 20.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,275 shares of company stock valued at $347,650 in the last quarter. 0.28% of the stock is currently owned by company insiders.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.