Mizuho Markets Cayman LP Buys New Position in NetApp, Inc. $NTAP

Mizuho Markets Cayman LP bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 36,180 shares of the data storage provider’s stock, valued at approximately $3,875,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Global Retirement Partners LLC boosted its holdings in NetApp by 76.7% in the fourth quarter. Global Retirement Partners LLC now owns 2,818 shares of the data storage provider’s stock worth $302,000 after acquiring an additional 1,223 shares in the last quarter. Cypress Capital LLC boosted its holdings in NetApp by 0.8% in the fourth quarter. Cypress Capital LLC now owns 21,109 shares of the data storage provider’s stock worth $2,261,000 after acquiring an additional 161 shares in the last quarter. Leonteq Securities AG bought a new position in NetApp in the fourth quarter worth approximately $103,000. IFP Advisors Inc boosted its holdings in NetApp by 6.6% in the fourth quarter. IFP Advisors Inc now owns 3,713 shares of the data storage provider’s stock worth $398,000 after acquiring an additional 231 shares in the last quarter. Finally, Tredje AP fonden boosted its holdings in NetApp by 52.2% in the fourth quarter. Tredje AP fonden now owns 22,945 shares of the data storage provider’s stock worth $2,457,000 after acquiring an additional 7,865 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 12.4%

NTAP stock opened at $139.36 on Friday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $141.75. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The stock’s 50 day moving average is $107.72 and its 200-day moving average is $106.80. The firm has a market capitalization of $27.50 billion, a PE ratio of 23.30, a P/E/G ratio of 2.26 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating 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 company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Sell-side analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is currently 34.78%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Bank of America increased their price target on NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Finally, Citigroup lowered NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $122.27.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This represents a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,275 shares of company stock worth $347,650 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

About NetApp

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.