NetApp, Inc. $NTAP Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC cut its stake in NetApp by 82.2% in Q3, selling 196,624 shares and retaining 42,722 shares valued at roughly $5.06 million.
• NetApp beat expectations in its latest quarter with $2.12 EPS (vs. $2.07 est.) and $1.71 billion in revenue, and provided guidance of Q4 2026 EPS 2.210–2.310 and FY2026 EPS 7.920–8.020.
• The company declared a quarterly dividend of $0.52 (annualized $2.08, ~2.1% yield), and analysts maintain a “Moderate Buy” consensus with an average price target of $122.42 after several target upgrades.

Neuberger Berman Group LLC lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 82.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,722 shares of the data storage provider's stock after selling 196,624 shares during the period. Neuberger Berman Group LLC's holdings in NetApp were worth $5,061,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in NetApp by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider's stock worth $51,266,000 after purchasing an additional 20,089 shares during the period. Citigroup Inc. lifted its stake in shares of NetApp by 216.1% during the third quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider's stock worth $109,875,000 after purchasing an additional 634,085 shares in the last quarter. National Pension Service boosted its position in shares of NetApp by 26.0% in the third quarter. National Pension Service now owns 159,274 shares of the data storage provider's stock worth $18,868,000 after buying an additional 32,833 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of NetApp by 3.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,810,772 shares of the data storage provider's stock worth $192,938,000 after buying an additional 66,045 shares during the period. Finally, J. Safra Sarasin Holding AG grew its stake in shares of NetApp by 496.7% in the third quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider's stock valued at $2,152,000 after buying an additional 15,123 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NTAP opened at $101.06 on Friday. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 3.13 and a beta of 1.39. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The business's 50 day moving average is $102.15 and its two-hundred day moving average is $110.98. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $126.66.

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 for the quarter, topping analysts' consensus estimates of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. NetApp's dividend payout ratio is 34.78%.

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTAP. Barclays boosted their price target on NetApp from $125.00 to $134.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 26th. Northland Securities set a $137.00 target price on shares of NetApp and gave the company an "outperform" rating in a research note on Wednesday, November 26th. Bank of America raised their price target on shares of NetApp from $125.00 to $129.00 and gave the company a "neutral" rating in a report on Wednesday, November 26th. Wedbush reiterated a "neutral" rating and issued a $115.00 price objective on shares of NetApp in a report on Wednesday, February 25th. Finally, Weiss Ratings raised shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $122.42.

About NetApp

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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