Mitsubishi UFJ Trust & Banking Corp Cuts Stock Holdings in NetApp, Inc. $NTAP

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 303,763 shares of the data storage provider's stock after selling 144,347 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.15% of NetApp worth $32,530,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NTAP. Geneos Wealth Management Inc. boosted its position in NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock valued at $67,000 after buying an additional 210 shares during the period. Sivia Capital Partners LLC purchased a new stake in NetApp during the second quarter valued at about $315,000. Cerity Partners LLC boosted its position in NetApp by 9.9% during the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock valued at $4,986,000 after buying an additional 4,232 shares during the period. Bank of Nova Scotia raised its stake in shares of NetApp by 7.3% during the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock valued at $2,589,000 after acquiring an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after acquiring an additional 2,277 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the transaction, the executive vice president owned 19,382 shares of the company's stock, valued at approximately $1,865,517.50. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,000 shares of company stock worth $300,370 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NTAP has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of NetApp from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Wedbush reaffirmed a "neutral" rating and set a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. Weiss Ratings downgraded shares of NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. JPMorgan Chase & Co. downgraded shares of NetApp from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Finally, 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 for the company. One research 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 stock. Based on data from MarketBeat, NetApp presently has a consensus rating of "Hold" and an average price target of $122.64.

NetApp Price Performance

NTAP stock opened at $108.65 on Thursday. NetApp, Inc. has a 1 year low of $86.70 and a 1 year high of $126.66. The company has a market cap of $21.44 billion, a P/E ratio of 18.17, a PEG ratio of 3.36 and a beta of 1.30. The firm has a 50-day moving average of $102.07 and a 200 day moving average of $106.69. 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 released its quarterly earnings results 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 company 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 earned $1.91 earnings per share. NetApp's revenue was up 4.4% on a year-over-year basis. 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, sell-side analysts forecast that NetApp, Inc. will post 6.48 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp's dividend payout ratio (DPR) is currently 34.78%.

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.

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