NetApp, Inc. $NTAP Stock Holdings Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 56.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,948 shares of the data storage provider’s stock after selling 160,800 shares during the quarter. Teacher Retirement System of Texas’ holdings in NetApp were worth $13,100,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NTAP. Manchester Capital Management LLC increased its holdings in shares of NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC acquired a new stake in NetApp in the 1st quarter valued at approximately $25,000. Harbour Investments Inc. grew its stake 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 worth $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of NetApp during the second quarter valued at about $28,000. Finally, Olde Wealth Management LLC acquired a new position in NetApp during the 1st quarter valued at about $29,000. 92.17% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction of $123,670.00. Following the completion of the transaction, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,029 shares of company stock valued at $2,444,194 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. William Blair reiterated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Barclays upped their price target on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Citigroup increased their price target on NetApp from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, Northland Securities raised their target price on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.40.

NetApp Trading Down 1.1%

NASDAQ:NTAP opened at $115.91 on Wednesday. The company has a market capitalization of $23.14 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.55 and a beta of 1.45. The stock’s 50 day moving average price is $118.64 and its 200 day moving average price is $106.67. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

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.