QRG Capital Management Inc. Sells 18,019 Shares of NetApp, Inc. $NTAP

QRG Capital Management Inc. lowered its holdings in NetApp, Inc. (NASDAQ:NTAP) by 66.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,175 shares of the data storage provider’s stock after selling 18,019 shares during the period. QRG Capital Management Inc.’s holdings in NetApp were worth $1,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NTAP. Richardson Financial Services Inc. raised its stake in NetApp by 49.4% in the third quarter. Richardson Financial Services Inc. now owns 484 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 160 shares in the last quarter. Wright Investors Service Inc. purchased a new stake in shares of NetApp during the 3rd quarter valued at $2,701,000. Wilmington Savings Fund Society FSB raised its position in shares of NetApp by 43.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,881 shares of the data storage provider’s stock valued at $341,000 after buying an additional 869 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of NetApp by 11.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,296 shares of the data storage provider’s stock worth $7,735,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in NetApp by 109.3% in the third quarter. Procyon Advisors LLC now owns 16,487 shares of the data storage provider’s stock worth $1,953,000 after acquiring an additional 8,610 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the sale, the executive vice president directly owned 21,075 shares in the company, valued at $2,223,201.75. The trade was a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,654 shares of company stock valued at $175,782. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Citigroup decreased their price objective on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Bank of America upped their target price on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Finally, Barclays boosted their price objective on shares of NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.33.

NetApp Price Performance

Shares of NetApp stock opened at $94.11 on Wednesday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78. The business’s 50 day simple moving average is $109.71 and its two-hundred day simple moving average is $112.31. The stock has a market capitalization of $18.64 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last issued its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the business earned $1.87 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be given a $0.52 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.2%. NetApp’s payout ratio is presently 36.17%.

NetApp 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.