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Sunnyvale Today
By the People, for the People
LGT Group Foundation Sells Stake in NetApp
Institutional investor reduces holding in data storage provider
Published on Mar. 9, 2026
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LGT Group Foundation, an institutional investor, has reduced its stake in NetApp, Inc. (NASDAQ:NTAP) by 21.3% in the third quarter, according to a disclosure with the Securities & Exchange Commission. The foundation now owns 188,885 shares of the data storage provider's stock, down from 240,997 shares previously.
Why it matters
This transaction highlights the shifting investment strategies of major institutional investors like LGT Group Foundation. Changes in large stakeholder positions can influence a company's stock price and market dynamics, providing insights into broader trends in the technology and data storage sectors.
The details
According to the SEC filing, LGT Group Foundation sold 51,112 shares of NetApp stock during the third quarter. The foundation now owns approximately 0.09% of NetApp's outstanding shares, valued at $22.38 million at the end of the reporting period.
- The transaction occurred in the third quarter of the fiscal year.
The players
LGT Group Foundation
An institutional investor that has reduced its stake in NetApp, Inc.
NetApp, Inc.
A data storage provider based in Sunnyvale, California.
The takeaway
This sale by a major institutional investor reflects the ongoing shifts in the data storage industry, as companies and investors navigate changing market conditions and technological advancements. The reduced stake in NetApp may signal broader portfolio realignments or changes in investment strategies by LGT Group Foundation.
