North Dakota State Investment Board Invests $1.06 Million in NetApp, Inc. $NTAP

North Dakota State Investment Board purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, Holdings Channel.com reports. The firm purchased 9,926 shares of the data storage provider’s stock, valued at approximately $1,063,000.

Other large investors have also modified their holdings of the company. Rossby Financial LCC raised its stake in shares of NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of NetApp during the third quarter worth approximately $27,000. Park Square Financial Group LLC raised its stake in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of NetApp during the third quarter worth approximately $35,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at $130,800. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,275 shares of company stock worth $347,650. Company insiders own 0.28% of the company’s stock.

NetApp Stock Down 1.3%

Shares of NASDAQ:NTAP opened at $118.97 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $126.66. The stock’s fifty day simple moving average is $106.34 and its 200-day simple moving average is $106.52. The company has a market capitalization of $23.48 billion, a P/E ratio of 19.89, a P/E/G ratio of 3.39 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business earned $1.91 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities research analysts forecast that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were given a dividend of $0.52 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. NetApp’s dividend payout ratio is 34.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NTAP shares. Weiss Ratings lowered NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Citigroup lowered NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of NetApp in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus price target of $122.27.

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.