Bessemer Group Inc. Sells 4,442 Shares of NetApp, Inc. $NTAP

Bessemer Group Inc. trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 42.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the data storage provider’s stock after selling 4,442 shares during the quarter. Bessemer Group Inc.’s holdings in NetApp were worth $639,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in NetApp in the second quarter valued at approximately $28,000. 1248 Management LLC bought a new position in NetApp in the first quarter valued at approximately $25,000. Manchester Capital Management LLC grew its stake in NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 219 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction 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 completion of the transaction, the executive vice president directly owned 23,628 shares of the company’s stock, valued at $2,922,074.76. The trade was a 4.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,029 shares of company stock valued at $2,444,194 in the last three months. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $117.78 on Friday. The stock has a market cap of $23.51 billion, a P/E ratio of 20.81, a PEG ratio of 2.48 and a beta of 1.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The stock has a 50 day simple moving average of $119.06 and a 200 day simple moving average of $107.36. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. NetApp’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.8%. NetApp’s payout ratio is currently 36.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NTAP shares. William Blair restated a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Argus reiterated a “buy” rating and set a $130.00 target price on shares of NetApp in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted their target price on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Northland Securities lifted their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley set a $117.00 target price on NetApp in a research note on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetApp 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.