9,926 Shares in NetApp, Inc. $NTAP Purchased by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board disclosed a new fourth-quarter position in NetApp, buying 9,926 shares worth about $1.06 million.
• NetApp recently reported better-than-expected quarterly results, with EPS of $2.12 and revenue of $1.71 billion, and it raised guidance for fiscal 2026.
• Despite the solid results, analyst sentiment remains cautious: the stock has a consensus rating of Hold, and several firms recently cut or lowered their ratings.

North Dakota State Investment Board acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,926 shares of the data storage provider's stock, valued at approximately $1,063,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Caliber Wealth Management LLC KS lifted its position in shares of NetApp by 5.0% during the third 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. Park Square Financial Group LLC increased its holdings in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of NetApp by 2.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider's stock valued at $655,000 after acquiring an additional 106 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of NetApp by 5.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider's stock valued at $209,000 after acquiring an additional 107 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of NetApp by 0.9% during the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider's stock valued at $1,345,000 after acquiring an additional 108 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Trading Down 1.3%

Shares of NTAP stock opened at $118.97 on Thursday. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $126.66. The firm has a market capitalization of $23.48 billion, a P/E ratio of 19.89, a PEG ratio of 3.39 and a beta of 1.28. The stock's fifty day moving average is $106.34 and its two-hundred day moving average is $106.52. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP - Get Free Report) 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. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts expect that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, April 2nd. NetApp's payout ratio is currently 34.78%.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, the executive vice president owned 18,382 shares of the company's stock, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,275 shares of company stock valued at $347,650. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NTAP. Bank of America increased their price target on shares of NetApp from $118.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of NetApp from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Weiss Ratings downgraded shares of NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Citigroup downgraded shares of NetApp from a "neutral" rating to a "mixed" rating in a report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $122.27.

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.

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