AG Asset Advisory LLC Sells 1,000 Shares of NetApp, Inc. $NTAP

AG Asset Advisory LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 19.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,056 shares of the data storage provider’s stock after selling 1,000 shares during the period. NetApp makes up 0.4% of AG Asset Advisory LLC’s investment portfolio, making the stock its 12th largest holding. AG Asset Advisory LLC’s holdings in NetApp were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State of Michigan Retirement System boosted its holdings in shares of NetApp by 3.0% during the 2nd quarter. State of Michigan Retirement System now owns 72,229 shares of the data storage provider’s stock worth $7,696,000 after buying an additional 2,100 shares in the last quarter. Tredje AP fonden boosted its holdings in shares of NetApp by 121.1% during the 2nd quarter. Tredje AP fonden now owns 35,987 shares of the data storage provider’s stock worth $3,834,000 after buying an additional 19,711 shares in the last quarter. Versor Investments LP bought a new position in shares of NetApp in the 2nd quarter worth $277,000. Kesler Norman & Wride LLC lifted its position in NetApp by 7.2% in the 2nd quarter. Kesler Norman & Wride LLC now owns 8,295 shares of the data storage provider’s stock valued at $884,000 after acquiring an additional 556 shares in the last quarter. Finally, Lifeworks Advisors LLC lifted its position in NetApp by 10.2% in the 2nd quarter. Lifeworks Advisors LLC now owns 31,369 shares of the data storage provider’s stock valued at $3,342,000 after acquiring an additional 2,894 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Wednesday, September 10th. The stock was 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 of the company’s stock, valued at $2,922,074.76. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,029 shares of company stock valued at $2,444,194 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Bank of America raised their price objective on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. William Blair restated a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Wedbush restated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Finally, Northland Securities raised their price objective on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, NetApp currently has a consensus rating of “Hold” and an average target price of $122.40.

NetApp Trading Up 1.9%

Shares of NTAP opened at $117.78 on Monday. The business has a 50-day moving average of $119.06 and a 200 day moving average of $107.55. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a market cap of $23.51 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 2.48 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

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 the consensus estimate of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business posted $1.56 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s payout ratio is presently 36.75%.

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.