Connor Clark & Lunn Investment Management Ltd. Has $56.37 Million Stock Holdings in NetApp, Inc. $NTAP

Key Points

• Connor Clark & Lunn trimmed its NetApp stake by 42.8%, selling 356,431 shares and ending the quarter with 475,824 shares worth about $56.37 million (≈0.24% of the company).
• NetApp beat quarterly expectations and set 2026 guidance — Q EPS $2.12 vs $2.07 expected, revenue $1.71B (+4.4% YoY), Q4 2026 EPS guidance 2.21–2.31 and FY 2026 guidance 7.92–8.02; the company also declared a $0.52 quarterly dividend (≈2.1% yield).

Connor Clark & Lunn Investment Management Ltd. trimmed its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 42.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,824 shares of the data storage provider's stock after selling 356,431 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of NetApp worth $56,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC increased its holdings in shares of NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 115 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of NetApp in the 3rd quarter worth $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in NetApp in the 2nd quarter valued at $34,000. Covestor Ltd grew its position in NetApp by 48.0% in the 3rd quarter. Covestor Ltd now owns 478 shares of the data storage provider's stock valued at $57,000 after purchasing an additional 155 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in NetApp by 49.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 484 shares of the data storage provider's stock valued at $57,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

Insider Buying and Selling

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the sale, the executive vice president directly owned 20,075 shares in the company, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

NTAP has been the subject of several recent research reports. Northland Securities set a $137.00 target price on shares of NetApp and gave the stock an "outperform" rating in a research report on Wednesday, November 26th. Wells Fargo & Company lifted their price target on NetApp from $100.00 to $115.00 and gave the company a "positive" rating in a research note on Wednesday, November 26th. UBS Group boosted their price objective on NetApp from $114.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, November 26th. Weiss Ratings raised NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 27th. Finally, The Goldman Sachs Group assumed coverage on NetApp in a report on Tuesday, January 13th. They issued a "buy" rating and a $128.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, NetApp has a consensus rating of "Moderate Buy" and an average target price of $122.42.

NetApp Stock Up 0.7%

NTAP opened at $97.58 on Thursday. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $126.66. The firm has a market capitalization of $19.26 billion, a P/E ratio of 16.32, a PEG ratio of 3.00 and a beta of 1.39. The company's 50-day moving average is $101.55 and its 200 day moving average is $110.76. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted $1.91 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp's dividend payout ratio (DPR) 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.

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