Nisa Investment Advisors LLC Sells 12,302 Shares of NetApp, Inc. $NTAP

Nisa Investment Advisors LLC cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 65,293 shares of the data storage provider’s stock after selling 12,302 shares during the quarter. Nisa Investment Advisors LLC’s holdings in NetApp were worth $6,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Pacer Advisors Inc. boosted its holdings in NetApp by 103.6% in the third quarter. Pacer Advisors Inc. now owns 1,783,103 shares of the data storage provider’s stock valued at $211,226,000 after acquiring an additional 907,233 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in NetApp by 94.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after purchasing an additional 886,485 shares during the period. AQR Capital Management LLC raised its holdings in NetApp by 71.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares in the last quarter. Wellington Management Group LLP raised its holdings in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of NetApp by 83.0% in the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after purchasing an additional 700,467 shares during the period. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 20,382 shares of the company’s stock, valued at $2,051,855.94. The trade was a 4.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 3,000 shares of company stock worth $309,610 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

NetApp Stock Performance

Shares of NTAP stock opened at $102.04 on Thursday. The company’s fifty day moving average price is $100.72 and its 200-day moving average price is $109.13. The stock has a market cap of $20.14 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 3.17 and a beta of 1.39. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $126.66.

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

NetApp Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTAP. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of NetApp in a research report on Wednesday, February 25th. The Goldman Sachs Group initiated coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, Citigroup upped their target price on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.42.

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.