Securian Asset Management Inc. Has $580,000 Position in NetApp, Inc. $NTAP

Securian Asset Management Inc. trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 43.7% during the fourth quarter, Holdings Channel reports. The firm owned 5,415 shares of the data storage provider’s stock after selling 4,202 shares during the quarter. Securian Asset Management Inc.’s holdings in NetApp were worth $580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NTAP. Geneos Wealth Management Inc. boosted its position in shares of NetApp by 38.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of NetApp during the 2nd quarter valued at about $315,000. Cerity Partners LLC boosted its position in shares of NetApp by 9.9% during the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after purchasing an additional 4,232 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of NetApp by 7.3% during the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after purchasing an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after purchasing an additional 2,277 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NTAP opened at $119.93 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The stock has a 50-day moving average of $105.21 and a 200-day moving average of $106.50. The company has a market cap of $23.67 billion, a PE ratio of 20.06, a P/E/G ratio of 3.40 and a beta of 1.28. NetApp, Inc. has a one year low of $93.69 and a one year high of $126.66.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities research analysts predict that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on 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 owned 18,382 shares in the company, valued at approximately $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $314,650 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

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

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.