Resona Asset Management Co. Ltd. Reduces Stake in NetApp, Inc. $NTAP

Resona Asset Management Co. Ltd. lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,487 shares of the data storage provider’s stock after selling 4,464 shares during the period. Resona Asset Management Co. Ltd.’s holdings in NetApp were worth $6,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC purchased a new stake in NetApp in the third quarter valued at approximately $27,000. Rossby Financial LCC boosted its position in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares during the last quarter. Park Square Financial Group LLC boosted its position in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in NetApp in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Up 4.2%

NetApp stock opened at $123.94 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $126.66. The stock’s 50 day simple moving average is $106.88 and its two-hundred day simple moving average is $106.57. The firm has a market cap of $24.46 billion, a PE ratio of 20.73, a P/E/G ratio of 3.11 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share 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 the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Analysts anticipate that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Dividend Announcement

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

Wall Street Analyst Weigh In

NTAP has been the topic of several recent research reports. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. Bank of America upped their price objective on NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $122.27.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. This represents a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,275 shares of company stock valued at $347,650. Corporate insiders own 0.28% of the company’s stock.

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.