Illinois Municipal Retirement Fund Decreases Holdings in NetApp, Inc. $NTAP

Illinois Municipal Retirement Fund reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,370 shares of the data storage provider’s stock after selling 15,575 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in NetApp were worth $22,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in shares of NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in NetApp in the second quarter worth $28,000. CVA Family Office LLC boosted its holdings in NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares in the last quarter. SouthState Corp grew its position in NetApp by 434.5% during the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after buying an additional 239 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in NetApp during the second quarter worth $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.2%

Shares of NASDAQ:NTAP opened at $105.90 on Thursday. The firm has a market cap of $20.97 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38. The company has a fifty day simple moving average of $106.60 and a 200 day simple moving average of $111.61. 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, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78.

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 the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.87 EPS. 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 research analysts anticipate 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 was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s payout ratio is currently 36.17%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of NetApp stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold 2,654 shares of company stock worth $279,232 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTAP. Oppenheimer reissued a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Thursday, January 22nd. Bank of America lifted their target price on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Barclays boosted their price objective on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Finally, Citigroup lowered their price objective on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NetApp has an average rating of “Moderate Buy” and a consensus price target of $123.93.

NetApp Company 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.