Mitsubishi UFJ Trust & Banking Corp Decreases Stock Position in NetApp, Inc. $NTAP

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 20.1% during the third quarter, Holdings Channel reports. The institutional investor owned 448,110 shares of the data storage provider’s stock after selling 112,811 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in NetApp were worth $53,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after buying an additional 210 shares during the period. Sivia Capital Partners LLC bought a new stake in NetApp during the 2nd quarter valued at $315,000. Farther Finance Advisors LLC lifted its position in shares of NetApp by 60.2% during the second quarter. Farther Finance Advisors LLC now owns 1,828 shares of the data storage provider’s stock worth $195,000 after acquiring an additional 687 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of NetApp by 22.3% in the second quarter. Fifth Third Bancorp now owns 13,347 shares of the data storage provider’s stock worth $1,422,000 after acquiring an additional 2,437 shares during the period. Finally, Ballentine Partners LLC purchased a new position in shares of NetApp in the second quarter valued at $380,000. Institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the transaction, the executive vice president directly owned 21,075 shares in the company, valued at approximately $2,223,201.75. This represents a 4.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,654 shares of company stock worth $175,782. 0.28% of the stock is owned by insiders.

NetApp Stock Down 1.8%

Shares of NASDAQ NTAP opened at $97.42 on Friday. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $127.78. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.15 and a beta of 1.38. The business has a 50-day moving average of $108.98 and a 200-day moving average of $112.10.

NetApp (NASDAQ:NTAP) last announced its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm posted $1.87 earnings per share. NetApp’s quarterly revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were given a $0.52 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.08 annualized dividend and a yield of 2.1%. NetApp’s payout ratio is 36.17%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup dropped their price objective on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Northland Securities set a $137.00 price target on NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Barclays raised their price objective on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Thursday. Finally, UBS Group upped their target price on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

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.