NetApp, Inc. $NTAP Stock Holdings Boosted by State of Michigan Retirement System

State of Michigan Retirement System lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,229 shares of the data storage provider’s stock after acquiring an additional 2,100 shares during the quarter. State of Michigan Retirement System’s holdings in NetApp were worth $7,696,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbour Investments Inc. boosted its stake in shares of NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of NetApp during the 2nd quarter worth $28,000. 1248 Management LLC bought a new stake in shares of NetApp during the 1st quarter worth $25,000. Manchester Capital Management LLC boosted its stake in shares of NetApp by 375.0% during 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 in the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 219 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Price Performance

NTAP opened at $116.94 on Tuesday. The stock has a fifty day moving average of $119.18 and a 200-day moving average of $107.79. The firm has a market capitalization of $23.34 billion, a P/E ratio of 20.66, a PEG ratio of 2.48 and a beta of 1.45. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55.

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

NetApp Dividend Announcement

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

Insider Buying and Selling

In related news, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. This represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 21,029 shares of company stock worth $2,444,194. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several research reports. Northland Securities raised their price objective on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Morgan Stanley set a $117.00 price objective on NetApp in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their price objective on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Finally, UBS Group increased their target price on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.40.

NetApp 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.