Illinois Municipal Retirement Fund Has $23.52 Million Position in NetApp, Inc. $NTAP

Illinois Municipal Retirement Fund lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,650 shares of the data storage provider’s stock after acquiring an additional 33,280 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in NetApp were worth $23,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the third quarter valued at $27,000. Rossby Financial LCC increased its position in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the last quarter. Park Square Financial Group LLC raised its stake in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares in 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 valued at $34,000 after buying an additional 201 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of NetApp during the 4th quarter valued at about $34,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. The trade was a 17.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares of the company’s stock, 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. Over the last three months, insiders sold 2,500 shares of company stock valued at $285,475. Insiders own 0.28% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $160.66 on Thursday. The company has a market cap of $31.48 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 3.10 and a beta of 1.45. The business has a 50 day moving average price of $123.56 and a 200 day moving average price of $111.54. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts predict that NetApp, Inc. will post 6.96 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NTAP. UBS Group restated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a report on Friday, May 29th. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Wedbush increased their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Finally, Northland Securities upped their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $169.33.

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.