State Board of Administration of Florida Retirement System Has $20.99 Million Stock Holdings in NetApp, Inc. $NTAP

State Board of Administration of Florida Retirement System raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 196,984 shares of the data storage provider’s stock after acquiring an additional 2,150 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of NetApp worth $20,989,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NTAP. Boston Partners boosted its stake in NetApp by 108.9% during the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock worth $313,997,000 after acquiring an additional 1,536,339 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 worth $756,665,000 after acquiring an additional 1,024,626 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in NetApp by 1,230.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after purchasing an additional 931,850 shares in the last quarter. Vanguard Group Inc. lifted its stake in NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock valued at $2,954,431,000 after acquiring an additional 686,188 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in NetApp by 18.8% in the first 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 valued at $311,529,000 after purchasing an additional 560,218 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Up 2.2%

Shares of NTAP stock opened at $111.61 on Monday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $131.30. The stock’s fifty day simple moving average is $115.50 and its 200 day simple moving average is $110.39. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $22.10 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm posted $1.87 earnings per share. The business’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. Q3 2026 guidance at 2.010-2.110 EPS. As a group, sell-side analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, January 2nd. NetApp’s dividend payout ratio (DPR) is 36.17%.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the sale, the executive vice president directly owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,183 shares of company stock valued at $1,483,361 over the last ninety days. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTAP. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Morgan Stanley set a $117.00 price target on shares of NetApp in a report on Thursday, August 28th. Wedbush restated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research report on Friday, October 10th. Barclays lifted their price target on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Bank of America upped their price objective on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $124.07.

NetApp Company Profile

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.