Board of the Pension Protection Fund Lowers Position in NetApp, Inc. $NTAP

Board of the Pension Protection Fund trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 90.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 700 shares of the data storage provider’s stock after selling 6,300 shares during the quarter. Board of the Pension Protection Fund’s holdings in NetApp were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NTAP. Rossby Financial LCC boosted its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp during the 3rd quarter valued at about $27,000. Measured Wealth Private Client Group LLC bought a new stake in NetApp in the 3rd quarter worth approximately $35,000. Twin Peaks Wealth Advisors LLC purchased a new stake in NetApp in the second quarter worth approximately $34,000. Finally, Covestor Ltd boosted its stake in NetApp by 48.0% in the third quarter. Covestor Ltd now owns 478 shares of the data storage provider’s stock worth $57,000 after buying an additional 155 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 2.3%

Shares of NTAP opened at $103.09 on Friday. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $126.66. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The firm’s 50-day moving average price is $100.92 and its 200-day moving average price is $110.28. The firm has a market capitalization of $20.34 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 3.12 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Sell-side analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 2.0%. NetApp’s dividend payout ratio (DPR) is 34.78%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total value of $100,670.00. Following the completion of the sale, the executive vice president owned 20,382 shares of the company’s stock, valued at approximately $2,051,855.94. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 3,000 shares of company stock valued at $309,610. 0.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wells Fargo & Company upped their price target on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective on the stock. Finally, Citigroup lifted their price objective on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.42.

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.