Thrivent Financial for Lutherans Acquires 38,421 Shares of NetApp, Inc. $NTAP

Thrivent Financial for Lutherans boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 133.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,172 shares of the data storage provider’s stock after purchasing an additional 38,421 shares during the period. Thrivent Financial for Lutherans’ holdings in NetApp were worth $7,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in shares of NetApp by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after acquiring an additional 20,089 shares during the period. Citigroup Inc. grew its position in shares of NetApp by 216.1% in the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock valued at $109,875,000 after acquiring an additional 634,085 shares during the period. National Pension Service grew its position in shares of NetApp by 26.0% in the 3rd quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after acquiring an additional 32,833 shares during the period. Arbejdsmarkedets Tillaegspension bought a new position in shares of NetApp in the 4th quarter valued at about $21,234,000. Finally, J. Safra Sarasin Holding AG grew its position in shares of NetApp by 496.7% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after acquiring an additional 15,123 shares during the period. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the sale, the executive vice president owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This trade represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,275 shares of company stock valued at $347,650 in the last ninety days. 0.28% of the stock is currently owned by insiders.

NetApp Stock Performance

Shares of NTAP stock opened at $118.97 on Thursday. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.39 and a beta of 1.28. 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 company has a 50-day simple moving average of $106.34 and a 200 day simple moving average of $106.52. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $126.66.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. NetApp’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, sell-side analysts predict that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTAP. JPMorgan Chase & Co. downgraded shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, Bank of America lifted their target price on shares of NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $122.27.

NetApp Company 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.