Police & Firemen s Retirement System of New Jersey Boosts Stock Position in NetApp, Inc. $NTAP

Police & Firemen s Retirement System of New Jersey increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,023 shares of the data storage provider’s stock after purchasing an additional 1,101 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in NetApp were worth $3,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Manchester Capital Management LLC boosted its position in shares of NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC bought a new position in NetApp in the 1st quarter valued at $25,000. Harbour Investments Inc. grew its position 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 valued at $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in shares of NetApp in the second quarter worth $28,000. Finally, CVA Family Office LLC raised its position in shares of NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Down 2.4%

Shares of NASDAQ NTAP opened at $106.80 on Tuesday. The stock has a market capitalization of $21.32 billion, a P/E ratio of 18.87, a PEG ratio of 2.48 and a beta of 1.46. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The firm’s 50 day simple moving average is $118.40 and its two-hundred day simple moving average is $109.57. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm posted $1.56 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, analysts expect 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 was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were paid 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 of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is 36.75%.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 11,529 shares of company stock valued at $1,413,069. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NTAP shares. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. UBS Group boosted their price objective on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Northland Securities raised their target price on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Argus reissued a “buy” rating and issued a $130.00 price target on shares of NetApp in a research note on Friday, August 29th. Finally, Wedbush restated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $122.07.

About NetApp

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.