New York State Teachers Retirement System Has $22.97 Million Holdings in NetApp, Inc. $NTAP

New York State Teachers Retirement System cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 0.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 215,619 shares of the data storage provider’s stock after selling 130 shares during the quarter. New York State Teachers Retirement System’s holdings in NetApp were worth $22,974,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NTAP. Farther Finance Advisors LLC grew its stake in NetApp by 62.8% during the first quarter. Farther Finance Advisors LLC now owns 1,141 shares of the data storage provider’s stock worth $102,000 after buying an additional 440 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in NetApp by 6.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,950 shares of the data storage provider’s stock worth $4,563,000 after buying an additional 3,196 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in NetApp by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 2,311 shares of the data storage provider’s stock worth $203,000 after buying an additional 261 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in NetApp by 29.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,837 shares of the data storage provider’s stock worth $337,000 after buying an additional 872 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in NetApp by 28.9% during the first quarter. State of Alaska Department of Revenue now owns 35,029 shares of the data storage provider’s stock worth $3,076,000 after buying an additional 7,850 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of analyst reports. Northland Securities increased their price objective on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. UBS Group increased their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Bank of America raised their price target on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. William Blair restated a “market perform” rating on shares of NetApp in a research note on Thursday. Finally, Citigroup raised their price target on shares of NetApp from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $122.40.

NetApp Stock Down 0.3%

Shares of NASDAQ NTAP opened at $119.07 on Friday. The company has a 50 day simple moving average of $117.42 and a 200 day simple moving average of $104.59. The firm has a market cap of $23.77 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.45. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.56 EPS. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is 36.75%.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Insiders sold a total of 29,529 shares of company stock worth $3,362,874 in the last quarter. 0.28% of the stock is owned by insiders.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.