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

Nisa Investment Advisors LLC reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 65,293 shares of the data storage provider’s stock after selling 12,302 shares during the period. Nisa Investment Advisors LLC’s holdings in NetApp were worth $6,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Pacer Advisors Inc. increased its stake 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its position in NetApp by 94.6% during the third 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 in the last quarter. AQR Capital Management LLC lifted its stake in NetApp by 71.6% during the third 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 during the last quarter. Wellington Management Group LLP lifted its stake in NetApp by 17.1% during the third 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 during the last quarter. Finally, Bank of America Corp DE boosted its holdings 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 in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,000 shares of company stock valued at $309,610 over the last quarter. 0.28% of the stock is owned by company insiders.

NetApp Stock Down 0.3%

Shares of NASDAQ NTAP opened at $102.04 on Thursday. The firm’s fifty day moving average is $100.72 and its 200 day moving average is $109.13. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $126.66. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.17 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 EPS. 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 research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NTAP shares. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Citigroup upped their target price on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target 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.