Russell Investments Group Ltd. Has $35.98 Million Stock Holdings in NetApp, Inc. $NTAP

Russell Investments Group Ltd. decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 29.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 337,837 shares of the data storage provider’s stock after selling 139,150 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of NetApp worth $35,976,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of NetApp by 2.5% during the second quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after purchasing an additional 686,188 shares in the last quarter. Geode Capital Management LLC raised its stake in NetApp by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after buying an additional 1,024,626 shares during the period. Ameriprise Financial Inc. lifted its holdings in NetApp by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after acquiring an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NetApp by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after acquiring an additional 560,218 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of NetApp by 12.3% in the first quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock worth $308,107,000 after acquiring an additional 384,362 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of several recent analyst reports. Northland Capmk upgraded NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Barclays lifted their price target on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup dropped their price objective on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a research report on Wednesday. Finally, Northland Securities set a $137.00 target price on NetApp and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.07.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,183 shares of company stock valued at $1,483,361. 0.28% of the stock is owned by corporate insiders.

NetApp Trading Up 2.2%

Shares of NASDAQ:NTAP opened at $111.61 on Friday. The company’s 50-day moving average price is $115.50 and its two-hundred day moving average price is $110.24. NetApp, Inc. has a one year low of $71.84 and a one year high of $131.30. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The stock has a market capitalization of $22.28 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.16. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company earned $1.87 EPS. NetApp’s revenue for the quarter was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. On average, equities analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s dividend payout ratio is presently 36.17%.

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.