California Public Employees Retirement System Has $38.61 Million Holdings in NetApp, Inc. $NTAP

California Public Employees Retirement System increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 362,331 shares of the data storage provider’s stock after acquiring an additional 20,163 shares during the quarter. California Public Employees Retirement System owned about 0.18% of NetApp worth $38,606,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of NetApp by 2.5% during the second quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after purchasing an additional 686,188 shares during the period. Geode Capital Management LLC boosted its stake in shares of NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after buying an additional 1,024,626 shares during the period. Ameriprise Financial Inc. grew its position in NetApp by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after buying an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NetApp by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after acquiring an additional 560,218 shares during the period. Finally, Invesco Ltd. raised its holdings in NetApp by 12.3% in the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock valued at $308,107,000 after acquiring an additional 384,362 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of several analyst reports. Wells Fargo & Company increased their target price on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a report on Wednesday, November 26th. Barclays upped their price objective on shares of NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Northland Securities set a $137.00 target price on shares of NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Finally, Citigroup reduced their price target on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, NetApp currently has an average rating of “Moderate Buy” and an average price target of $124.07.

NetApp Stock Up 1.8%

Shares of NASDAQ:NTAP opened at $119.39 on Thursday. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $127.78. The company has a market capitalization of $23.65 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.42. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The company has a fifty day moving average of $114.75 and a 200-day moving average of $111.23.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.17. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the business posted $1.87 EPS. NetApp’s revenue for the quarter 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. On average, equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp’s dividend payout ratio is currently 36.17%.

Insider Activity

In other news, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The SEC filing for this sale provides additional information. Insiders sold 11,183 shares of company stock valued at $1,359,691 over the last quarter. 0.28% of the stock is owned by company insiders.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.