NetApp, Inc. $NTAP Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 540,220 shares of the data storage provider’s stock after selling 48,805 shares during the period. NetApp accounts for about 1.0% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 20th biggest holding. Wedge Capital Management L L P NC owned about 0.27% of NetApp worth $57,852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of NetApp by 9.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 11,396 shares of the data storage provider’s stock valued at $1,220,000 after acquiring an additional 942 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in NetApp by 8.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,290 shares of the data storage provider’s stock worth $674,000 after purchasing an additional 510 shares during the last quarter. KMG Fiduciary Partners LLC boosted its holdings in NetApp by 3.4% in the fourth quarter. KMG Fiduciary Partners LLC now owns 24,005 shares of the data storage provider’s stock worth $2,571,000 after purchasing an additional 781 shares during the period. JFS Wealth Advisors LLC increased its stake in NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in NetApp by 314.6% during the fourth quarter. Global X Japan Co. Ltd. now owns 6,235 shares of the data storage provider’s stock valued at $668,000 after purchasing an additional 4,731 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NTAP. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. The Goldman Sachs Group initiated coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective on the stock. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of NetApp in a report on Wednesday, February 25th. Finally, Citigroup lifted their target price on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $122.42.

NetApp Stock Performance

Shares of NTAP opened at $102.34 on Friday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $126.66. The company has a market cap of $20.19 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 3.24 and a beta of 1.39. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The firm has a fifty day moving average of $100.51 and a 200-day moving average of $109.69.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $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. As a group, equities analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio is 34.78%.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total value of $100,670.00. Following the sale, the executive vice president directly owned 20,382 shares in the company, valued at $2,051,855.94. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 3,000 shares of company stock valued at $309,610. Corporate insiders own 0.28% of the company’s stock.

NetApp Profile

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.