AustralianSuper Pty Ltd Sells 20,771 Shares of NetApp, Inc. $NTAP

AustralianSuper Pty Ltd lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 360,186 shares of the data storage provider’s stock after selling 20,771 shares during the period. AustralianSuper Pty Ltd owned about 0.18% of NetApp worth $38,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd raised its stake in shares of NetApp by 24.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 18,820 shares of the data storage provider’s stock valued at $2,005,000 after acquiring an additional 3,679 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in NetApp by 12.8% during the second quarter. Nisa Investment Advisors LLC now owns 71,181 shares of the data storage provider’s stock valued at $7,584,000 after buying an additional 8,067 shares during the period. Wealthfront Advisers LLC increased its holdings in NetApp by 27.7% during the second quarter. Wealthfront Advisers LLC now owns 13,181 shares of the data storage provider’s stock valued at $1,404,000 after buying an additional 2,862 shares during the period. Brighton Jones LLC purchased a new position in NetApp during the second quarter valued at approximately $293,000. Finally, Linden Thomas Advisory Services LLC increased its holdings in NetApp by 4.3% during the second quarter. Linden Thomas Advisory Services LLC now owns 19,135 shares of the data storage provider’s stock valued at $2,039,000 after buying an additional 790 shares during the period. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wedbush reissued a “neutral” rating and set a $110.00 price objective on shares of NetApp in a report on Friday, October 10th. Morgan Stanley set a $117.00 price objective on shares of NetApp in a report on Thursday, August 28th. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Citigroup lifted their price objective on shares of NetApp from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Northland Securities lifted their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $122.40.

NetApp Price Performance

NASDAQ NTAP opened at $116.64 on Monday. The firm’s fifty day simple moving average is $118.34 and its two-hundred day simple moving average is $106.22. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The firm has a market capitalization of $23.28 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.53 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 17.77% and a return on equity of 123.24%. NetApp’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

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. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s payout ratio is 36.75%.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the sale, the executive vice president directly owned 22,628 shares of the company’s stock, valued at $2,692,732. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders have sold 21,029 shares of company stock valued at $2,444,194 over the last ninety days. 0.28% of the stock is currently owned by insiders.

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.