LGT Group Foundation Has $22.38 Million Stock Holdings in NetApp, Inc. $NTAP

LGT Group Foundation trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 21.3% during the third quarter, HoldingsChannel reports. The fund owned 188,885 shares of the data storage provider’s stock after selling 51,112 shares during the quarter. LGT Group Foundation’s holdings in NetApp were worth $22,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ascent Group LLC raised its stake in shares of NetApp by 1.5% during the third quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after acquiring an additional 90 shares during the last quarter. Caliber Wealth Management LLC KS grew its position in shares of NetApp by 5.0% in the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after buying an additional 100 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of NetApp by 19.2% in the second quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock valued at $69,000 after buying an additional 104 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of NetApp by 2.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock valued at $655,000 after buying an additional 106 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of NetApp by 2.6% during the third quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock worth $537,000 after acquiring an additional 113 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NTAP. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. UBS Group boosted their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company lifted their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.42.

NetApp Trading Down 1.0%

NASDAQ NTAP opened at $101.06 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $126.66. The business has a 50 day moving average price of $102.15 and a 200-day moving average price of $111.00. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 3.13 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $1.91 EPS. NetApp’s quarterly revenue was up 4.4% compared to the same quarter last year. 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 analysts expect 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 will be paid on Wednesday, April 22nd. Shareholders 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 of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is 34.78%.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s 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 completion of the sale, the executive vice president directly owned 20,075 shares of the company’s stock, valued at $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.28% of the stock is owned by corporate insiders.

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.