iA Global Asset Management Inc. Buys 21,586 Shares of NetApp, Inc. $NTAP

iA Global Asset Management Inc. lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 3,615.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,183 shares of the data storage provider’s stock after acquiring an additional 21,586 shares during the period. iA Global Asset Management Inc.’s holdings in NetApp were worth $2,376,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NTAP. Abich Financial Wealth Management LLC bought a new stake in shares of NetApp during the 3rd quarter worth $27,000. Rossby Financial LCC lifted its holdings in shares of NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 201 shares during the last quarter. Torren Management LLC bought a new stake in shares of NetApp during the 4th quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in NetApp in the 3rd quarter worth $35,000. 92.17% of the stock is owned by institutional investors.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares in the company, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $314,650 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NTAP shares. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Citigroup cut shares of NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday. Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.64.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $120.60 on Tuesday. The stock has a market cap of $23.80 billion, a PE ratio of 20.17, a PEG ratio of 3.40 and a beta of 1.28. The company’s fifty day moving average is $105.58 and its 200 day moving average is $106.46. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $126.66. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company earned $1.91 EPS. The firm’s revenue 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 6.48 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were given a $0.52 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. NetApp’s payout ratio is presently 34.78%.

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.