Railway Pension Investments Ltd Buys 20,000 Shares of NetApp, Inc. $NTAP

Railway Pension Investments Ltd increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 344,850 shares of the data storage provider’s stock after acquiring an additional 20,000 shares during the quarter. Railway Pension Investments Ltd’s holdings in NetApp were worth $40,851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Harbour Investments Inc. grew its holdings in shares of NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of NetApp in the 2nd quarter valued at $28,000. 1248 Management LLC acquired a new stake in NetApp during the first quarter worth approximately $30,000. CVA Family Office LLC lifted its position in shares of NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 219 shares during the period. Finally, SouthState Corp grew its stake in shares of NetApp by 434.5% in the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTAP. William Blair reissued a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Barclays boosted their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Bank of America increased their price target on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Citigroup cut their price objective on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, Northland Securities set a $137.00 target price on NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetApp presently has an average rating of “Moderate Buy” and a consensus target price of $124.07.

NetApp Stock Down 0.6%

NTAP stock opened at $106.47 on Monday. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $127.78. The company’s 50 day moving average is $112.06 and its 200 day moving average is $112.37. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.35 and a beta of 1.38. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business posted $1.87 EPS. The business’s quarterly 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. Sell-side 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. Shareholders of record on Friday, January 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s payout ratio is presently 36.17%.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the 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 SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the sale, the executive vice president owned 22,628 shares in the company, valued at approximately $2,692,732. The trade was a 4.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,654 shares of company stock worth $189,292 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

About NetApp

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.