Mutual of America Capital Management LLC Sells 6,443 Shares of NetApp, Inc. $NTAP

Key Points

• Mutual of America Capital Management LLC reduced its stake in NetApp, Inc. by 17.2% during the 2nd quarter, now holding 31,103 shares valued at approximately $3.31 million.
• NetApp reported earnings per share (EPS) of $1.19 for the latest quarter, missing the consensus estimate of $1.54 and showing a slight year-over-year revenue increase of 1.2%.
• The company declared a quarterly dividend of $0.52 per share, providing an annual yield of 1.8% and indicating a dividend payout ratio of 36.75%.

Mutual of America Capital Management LLC lowered its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 17.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,103 shares of the data storage provider's stock after selling 6,443 shares during the quarter. Mutual of America Capital Management LLC's holdings in NetApp were worth $3,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NTAP. Pacer Advisors Inc. boosted its stake in NetApp by 4,687.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider's stock worth $93,874,000 after purchasing an additional 1,046,372 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in NetApp by 1,230.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider's stock worth $107,359,000 after purchasing an additional 931,850 shares during the period. Vanguard Group Inc. raised its holdings in shares of NetApp by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider's stock valued at $2,375,363,000 after acquiring an additional 597,956 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock valued at $311,529,000 after acquiring an additional 560,218 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of NetApp by 97.7% in the 1st quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider's stock valued at $96,293,000 after acquiring an additional 541,837 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

NetApp Price Performance

NTAP opened at $117.79 on Friday. The stock's 50 day simple moving average is $118.18 and its 200 day simple moving average is $105.59. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.54 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. NetApp's revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, October 3rd. NetApp's dividend payout ratio (DPR) is presently 36.75%.

Insider Buying and Selling

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the sale, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The disclosure for this sale can be found here. Insiders have sold a total of 21,029 shares of company stock worth $2,444,194 in the last ninety days. 0.28% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on NTAP. UBS Group raised their price target on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Wedbush reaffirmed a "neutral" rating and issued a $110.00 price target on shares of NetApp in a report on Friday, October 10th. JPMorgan Chase & Co. raised their price target on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Citigroup raised their price target on NetApp from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, October 16th. Finally, Bank of America raised their price objective on NetApp from $121.00 to $125.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $122.40.

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.

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