NetApp, Inc. $NTAP Stock Position Raised by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 36.6% during the third quarter, HoldingsChannel.com reports. The fund owned 26,555 shares of the data storage provider’s stock after buying an additional 7,113 shares during the period. Elo Mutual Pension Insurance Co’s holdings in NetApp were worth $3,146,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NTAP. Abich Financial Wealth Management LLC purchased a new position in NetApp in the 3rd quarter worth about $27,000. Rossby Financial LCC raised its holdings 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 valued at $27,000 after acquiring an additional 115 shares during the period. SouthState Corp lifted its position in shares of NetApp by 434.5% in the 2nd quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 239 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in NetApp in the 2nd quarter worth approximately $34,000. Finally, NewSquare Capital LLC grew its position in NetApp by 951.4% during the 2nd quarter. NewSquare Capital LLC now owns 368 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 333 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Price Performance

NASDAQ NTAP opened at $98.79 on Wednesday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $126.66. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. The stock has a market capitalization of $19.49 billion, a PE ratio of 16.52, a P/E/G ratio of 3.15 and a beta of 1.39. The stock has a 50-day simple moving average of $102.70 and a 200 day simple moving average of $111.17.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $1.91 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio is 34.78%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the sale, the executive vice president directly owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. Bank of America increased their price objective on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. Northland Securities set a $137.00 price target on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Finally, Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has an average rating of “Moderate Buy” and a consensus target price 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.