NetApp (NASDAQ:NTAP) Stock Price Down 6.5% After Insider Selling

15 Jul 2026, 14:40 by Sarita Garza · The Markets Daily

NetApp, Inc. (NASDAQ:NTAP – Get Free Report)’s stock price dropped 6.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $169.66 and last traded at $163.2060. 357,892 shares traded hands during trading, a decline of 87% from the average session volume of 2,763,938 shares. The stock had previously closed at $174.55.

Specifically, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $170.92, for a total transaction of $170,920.00. Following the completion of the transaction, the executive vice president directly owned 31,297 shares in the company, valued at approximately $5,349,283.24. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

NTAP has been the topic of several research reports. Citigroup increased their price target on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Northland Securities raised their price target on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wedbush boosted their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen downgraded NetApp from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $169.33.

Get Our Latest Stock Report on NetApp

NetApp Trading Down 6.5%

The company has a market cap of $31.98 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.00 and a beta of 1.46. The business has a 50 day simple moving average of $150.42 and a two-hundred day simple moving average of $119.52. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP – Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s payout ratio is 32.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock valued at $1,091,499,000 after purchasing an additional 115,451 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after purchasing an additional 718,409 shares during the last quarter. Norges Bank acquired a new position in shares of NetApp in the 4th quarter valued at $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NetApp by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock valued at $442,018,000 after buying an additional 611,003 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of NetApp by 127.0% during the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after buying an additional 2,046,912 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

About NetApp

(Get Free Report)

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.