Oppenheimer Asset Management Inc. Sells 4,719 Shares of NetApp, Inc. $NTAP

Oppenheimer Asset Management Inc. cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,500 shares of the data storage provider’s stock after selling 4,719 shares during the period. Oppenheimer Asset Management Inc.’s holdings in NetApp were worth $1,981,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NTAP. Envestnet Asset Management Inc. boosted its holdings in NetApp by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after purchasing an additional 20,089 shares in the last quarter. Citigroup Inc. boosted its holdings in NetApp by 216.1% in the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock valued at $109,875,000 after purchasing an additional 634,085 shares in the last quarter. National Pension Service boosted its holdings in NetApp by 26.0% in the 3rd quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after purchasing an additional 32,833 shares in the last quarter. J. Safra Sarasin Holding AG boosted its holdings in NetApp by 496.7% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after purchasing an additional 15,123 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in NetApp by 515.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock valued at $13,713,000 after purchasing an additional 96,937 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president directly owned 19,382 shares in the company, valued at $1,865,517.50. This represents a 4.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 3,000 shares of company stock worth $300,370. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTAP. Citigroup lifted their price objective on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. The Goldman Sachs Group initiated coverage on NetApp in a research report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.64.

NetApp Trading Down 1.0%

NTAP stock opened at $110.94 on Tuesday. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.17 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The business has a fifty day simple moving average of $102.26 and a 200-day simple moving average of $106.53. NetApp, Inc. has a 52 week low of $91.15 and a 52 week high of $126.66.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm 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. On average, equities research analysts expect that NetApp, Inc. will post 6.48 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, April 2nd. NetApp’s dividend payout ratio is presently 34.78%.

NetApp Company 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.