Metis Global Partners LLC Cuts Stock Position in NetApp, Inc. $NTAP

Metis Global Partners LLC lessened its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,525 shares of the data storage provider’s stock after selling 4,367 shares during the quarter. Metis Global Partners LLC’s holdings in NetApp were worth $1,335,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Horizon Investments LLC increased its position in shares of NetApp by 3.8% during the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock worth $255,000 after purchasing an additional 107 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in NetApp by 11.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock worth $115,000 after buying an additional 107 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in NetApp by 0.4% in the first quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider’s stock valued at $2,608,000 after buying an additional 131 shares during the last quarter. Finally, EWA LLC raised its stake in NetApp by 5.4% in the second quarter. EWA LLC now owns 2,535 shares of the data storage provider’s stock valued at $270,000 after buying an additional 131 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NTAP. Bank of America boosted their price target on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Barclays upped their price target on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Argus reiterated a “buy” rating and set a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Finally, Northland Securities upped their target price on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.40.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,750 shares of the company’s 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 sale, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 20,029 shares of company stock valued at $2,338,294. 0.28% of the stock is owned by company insiders.

NetApp Trading Down 0.4%

Shares of NetApp stock opened at $112.50 on Tuesday. The stock has a market cap of $22.46 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. The firm has a fifty day moving average price of $119.25 and a 200 day moving average price of $108.83. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. 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 (NASDAQ:NTAP) last announced its quarterly earnings results 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). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.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 posted $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

About NetApp

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.