NetApp, Inc. $NTAP Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 412,683 shares of the data storage provider’s stock after selling 6,873 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NetApp were worth $43,971,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of NetApp by 12.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 71,181 shares of the data storage provider’s stock valued at $7,584,000 after acquiring an additional 8,067 shares during the period. Wealthfront Advisers LLC increased its holdings in NetApp by 27.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 13,181 shares of the data storage provider’s stock valued at $1,404,000 after purchasing an additional 2,862 shares during the last quarter. Brighton Jones LLC acquired a new stake in NetApp in the 2nd quarter valued at approximately $293,000. Linden Thomas Advisory Services LLC raised its position in NetApp by 4.3% in 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 purchasing an additional 790 shares during the period. Finally, CVA Family Office LLC raised its position in NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 219 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTAP has been the subject of several research analyst reports. Argus restated a “buy” rating and set a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. UBS Group increased their target price on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Morgan Stanley set a $117.00 target price on NetApp in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Finally, William Blair reissued a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus target price of $122.40.

NetApp Trading Up 1.9%

NTAP opened at $117.78 on Friday. The business has a fifty day moving average price of $119.06 and a 200 day moving average price of $107.36. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a market capitalization of $23.51 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.48 and a beta of 1.45.

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 analysts’ consensus estimates of $1.54 by ($0.35). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. NetApp’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the business 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. Sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were given a $0.52 dividend. 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 dividend payout ratio is currently 36.75%.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 21,029 shares of company stock worth $2,444,194. Corporate insiders own 0.28% of the company’s stock.

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.