NetApp, Inc. $NTAP Stake Cut by Todd Asset Management LLC

Key Points

• Todd Asset Management reduced its NetApp stake by 5.6% in the fourth quarter, though it still held 207,024 shares valued at about $22.2 million.
• Analysts have become more cautious on NetApp: several firms cut ratings recently, and the stock now carries a consensus “Hold” rating with an average price target of $122.27.
• NetApp reported solid quarterly results, beating EPS and revenue estimates, and it also paid a quarterly dividend of $0.52 per share, equal to a 1.5% annual yield.

Todd Asset Management LLC cut its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,024 shares of the data storage provider's stock after selling 12,202 shares during the quarter. Todd Asset Management LLC owned 0.10% of NetApp worth $22,170,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC increased its position in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in NetApp in the third quarter worth $27,000. Park Square Financial Group LLC increased its position in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in NetApp in the third quarter worth $35,000. Finally, JFS Wealth Advisors LLC increased its position in NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock worth $34,000 after buying an additional 201 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup lowered NetApp from a "neutral" rating to a "mixed" rating in a research report on Thursday, May 14th. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. JPMorgan Chase & Co. lowered NetApp from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $110.00 in a report on Thursday, April 16th. Weiss Ratings lowered NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Finally, Bank of America raised their price target on NetApp from $118.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, NetApp presently has an average rating of "Hold" and a consensus price target of $122.27.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares of the company's stock, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at $130,800. This represents a 20.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,275 shares of company stock worth $347,650 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

NetApp Stock Performance

NetApp stock opened at $139.36 on Monday. The firm has a 50 day simple moving average of $107.72 and a 200-day simple moving average of $106.73. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The stock has a market capitalization of $27.50 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $141.75.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business's revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $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. As a group, equities research analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.5%. NetApp's dividend payout ratio is currently 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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