NetApp, Inc. $NTAP Stock Position Cut by Stoneridge Investment Partners LLC

Key Points

• Stoneridge Investment Partners LLC has reduced its position in NetApp, Inc. by 52.5%, owning 8,602 shares after selling 9,513 shares in the first quarter.
• Insider transactions included CAO Lorenzo Daniel De selling 302 shares and EVP Elizabeth M. O'Callahan selling 1,000 shares, indicating decreases in their ownership positions.
• NetApp recently reported earnings of $1.93 EPS for the quarter, exceeding analyst estimates, while setting FY 2026 guidance for EPS between 7.600-7.900.

Stoneridge Investment Partners LLC lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 52.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,602 shares of the data storage provider's stock after selling 9,513 shares during the period. Stoneridge Investment Partners LLC's holdings in NetApp were worth $756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in NetApp by 39.6% in the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock worth $3,250,000 after purchasing an additional 10,494 shares during the last quarter. Achmea Investment Management B.V. lifted its holdings in NetApp by 55.8% during the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock valued at $19,492,000 after buying an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of NetApp in the 1st quarter worth approximately $321,000. UNICOM Systems Inc. acquired a new position in NetApp during the 1st quarter valued at approximately $13,483,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of NetApp in the 1st quarter valued at $2,050,000. Institutional investors own 92.17% of the company's stock.

NetApp Price Performance

Shares of NASDAQ:NTAP traded up $2.74 on Friday, reaching $110.52. 1,331,254 shares of the company were exchanged, compared to its average volume of 1,462,919. 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, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The firm has a market cap of $22.14 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.48 and a beta of 1.44. The company has a 50-day moving average of $105.83 and a 200-day moving average of $100.54.

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

NetApp Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTAP. Evercore ISI reduced their target price on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Barclays increased their target price on shares of NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Citigroup increased their target price on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Wells Fargo & Company lowered their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $119.86.

Insider Buying and Selling at NetApp

In other news, 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 transaction of $29,828.54. Following the transaction, the chief accounting officer directly owned 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares in the company, valued at approximately $2,462,280.90. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,802 shares of company stock worth $2,951,604. Corporate insiders own 0.28% of the company's stock.

NetApp Company Profile

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.