Oregon Public Employees Retirement Fund Raises Stake in NetApp, Inc. $NTAP

Oregon Public Employees Retirement Fund grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 30.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,875 shares of the data storage provider’s stock after acquiring an additional 5,330 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in NetApp were worth $2,710,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NTAP. Harbour Investments Inc. raised its stake in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares during the period. Harbor Asset Planning Inc. purchased a new stake in shares of NetApp during the 2nd quarter valued at approximately $28,000. CVA Family Office LLC lifted its holdings in NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 219 shares during the last quarter. SouthState Corp grew its position in NetApp by 434.5% in the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 239 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in NetApp during the second quarter worth $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.28% of the stock is owned by company insiders.

NetApp Trading Up 1.6%

NASDAQ NTAP opened at $107.03 on Tuesday. The firm has a 50 day simple moving average of $110.78 and a 200-day simple moving average of $112.43. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.33 and a beta of 1.38. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. NetApp, Inc. has a one year low of $71.84 and a one year high of $127.78.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.NetApp’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a $0.52 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s payout ratio is currently 36.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NTAP shares. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Northland Securities set a $137.00 target price on shares of NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. UBS Group increased their target price on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Citigroup dropped their price target on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Oppenheimer restated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.07.

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.