NetApp, Inc. $NTAP Shares Bought by Tredje AP fonden

Tredje AP fonden raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 52.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,945 shares of the data storage provider’s stock after acquiring an additional 7,865 shares during the period. Tredje AP fonden’s holdings in NetApp were worth $2,457,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,275 shares of company stock worth $347,650 over the last 90 days. Company insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the subject of several analyst reports. Citigroup cut shares of NetApp from a “neutral” rating to a “mixed” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Bank of America increased their price target on shares of NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday. Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.27.

NetApp Price Performance

NetApp stock opened at $118.97 on Thursday. The firm has a market cap of $23.48 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. 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. The company’s 50 day moving average is $106.34 and its two-hundred day moving average is $106.52.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $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, research analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

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