Pensionfund Sabic Buys New Shares in NetApp, Inc. $NTAP

Pensionfund Sabic purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,200 shares of the data storage provider’s stock, valued at approximately $1,306,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTAP. Daymark Wealth Partners LLC raised its holdings in shares of NetApp by 1.8% during the 4th quarter. Daymark Wealth Partners LLC now owns 20,339 shares of the data storage provider’s stock valued at $2,178,000 after buying an additional 352 shares in the last quarter. Diversified Trust Co. boosted its stake in NetApp by 1.9% in the fourth quarter. Diversified Trust Co. now owns 61,557 shares of the data storage provider’s stock worth $6,592,000 after buying an additional 1,148 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in NetApp by 2.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 72,743 shares of the data storage provider’s stock valued at $7,767,000 after acquiring an additional 1,741 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in NetApp by 5.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,115 shares of the data storage provider’s stock valued at $748,000 after acquiring an additional 365 shares during the last quarter. Finally, Sarasin & Partners LLP purchased a new position in shares of NetApp during the fourth quarter worth approximately $24,254,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total value of $100,670.00. Following the completion of the sale, the executive vice president directly owned 20,382 shares in the company, valued at $2,051,855.94. This trade represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 3,000 shares of company stock valued at $309,610 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NTAP. Northland Securities set a $137.00 target price on shares of NetApp and gave the company an “outperform” rating in a report on Wednesday, November 26th. Oppenheimer restated a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Citigroup raised their price objective on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Bank of America boosted their target price on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of “Hold” and an average target price of $122.42.

NetApp Stock Performance

Shares of NTAP stock opened at $104.31 on Wednesday. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 3.14 and a beta of 1.39. The stock has a fifty day moving average of $100.66 and a 200 day moving average of $109.89. NetApp, Inc. has a 52 week low of $71.84 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 quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $1.91 EPS. The company’s quarterly 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. As a group, research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio is presently 34.78%.

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.