Banco Bilbao Vizcaya Argentaria S.A. Trims Stock Holdings in NetApp, Inc. $NTAP

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has reduced its holdings in NetApp, Inc. by 4.5%, owning 94,646 shares worth approximately $8.30 million as of the latest SEC filing.
• Analysts have varying ratings for NetApp, with JPMorgan Chase & Co. recently increasing their price target from $115.00 to $130.00, while the average price target is $119.21.
• NetApp recently declared a quarterly dividend of $0.52, reflecting an annualized yield of 1.9% and a dividend payout ratio of 36.62%.

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,646 shares of the data storage provider's stock after selling 4,486 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in NetApp were worth $8,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC grew its stake in shares of NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 225 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of NetApp in the 1st quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of NetApp by 54.9% in the first 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. Itau Unibanco Holding S.A. boosted its stake in shares of NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after buying an additional 251 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of NetApp by 50.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after buying an additional 100 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTAP. Barclays lifted their price target on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Citigroup lifted their price target on NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. lifted their price target on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Morgan Stanley started coverage on NetApp in a research note on Thursday. They issued an "equal weight" rating and a $115.00 price target on the stock. Finally, UBS Group decreased their target price on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $119.86.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $108.85, for a total value of $925,225.00. Following the completion of the sale, the chief executive officer owned 283,688 shares of the company's stock, valued at $30,879,438.80. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the completion of the transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at $44,940.35. This represents a 39.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,802 shares of company stock valued at $2,951,604 over the last quarter. Company insiders own 0.28% of the company's stock.

NetApp Price Performance

Shares of NASDAQ NTAP traded up $0.1710 during trading on Monday, reaching $110.6910. The company had a trading volume of 529,634 shares, compared to its average volume of 2,011,864. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a market capitalization of $22.18 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.44. The stock has a 50-day moving average price of $105.83 and a two-hundred day moving average price of $100.22. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. As a group, sell-side analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp's dividend payout ratio is presently 36.62%.

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.