Todd Asset Management LLC Cuts Stake in NetApp, Inc. $NTAP

Todd Asset Management LLC trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 22.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,226 shares of the data storage provider’s stock after selling 63,941 shares during the quarter. Todd Asset Management LLC’s holdings in NetApp were worth $25,970,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NTAP. Harbour Investments Inc. increased its holdings in shares of NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of NetApp during the 3rd quarter worth about $27,000. CVA Family Office LLC increased its position in NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 219 shares in the last quarter. SouthState Corp raised its holdings in NetApp by 434.5% in the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after buying an additional 239 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in NetApp during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the subject of several recent research reports. Bank of America increased their price objective on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Barclays raised their price objective on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Wells Fargo & Company boosted their price target on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Finally, UBS Group increased their price objective on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.93.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the sale, the executive vice president owned 20,075 shares in the company, valued at $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is owned by company insiders.

NetApp Price Performance

Shares of NTAP stock opened at $102.42 on Monday. The firm has a fifty day moving average of $105.94 and a two-hundred day moving average of $111.57. The firm has a market cap of $20.29 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.25 and a beta of 1.39. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s dividend payout ratio is currently 36.17%.

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.