Nykredit A S Purchases Shares of 68,380 NetApp, Inc. $NTAP

Nykredit A S acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 68,380 shares of the data storage provider’s stock, valued at approximately $10,582,000.

Several other hedge funds have also recently added to or reduced their stakes in NTAP. BlackRock Inc. purchased a new position in NetApp in the second quarter worth approximately $2,925,168,000. Primecap Management Co. CA acquired a new position in shares of NetApp during the second quarter worth $1,395,423,000. Norges Bank purchased a new position in NetApp in the fourth quarter valued at $458,060,000. First Trust Advisors LP raised its stake in NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after buying an additional 2,046,912 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in NetApp during the 2nd quarter worth about $258,093,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Up 0.1%

Shares of NTAP stock opened at $185.59 on Friday. The company has a market capitalization of $36.45 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 2.52 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.39 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $178.73 and its two-hundred day moving average is $140.86. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Equities analysts forecast that NetApp, Inc. will post 7.34 EPS for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, October 9th. NetApp’s dividend payout ratio (DPR) is 29.34%.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported record fiscal first-quarter results, with revenue rising 29.9% year over year to $2.03 billion and adjusted earnings of $2.58 per share, well above consensus estimates of $1.84 billion and approximately $2.13 per share. NTAP Q1 Earnings Beat Estimates on Hybrid, Public Cloud Revenue Growth
• Positive Sentiment: Management raised its fiscal 2027 adjusted EPS outlook to $9.73-$10.03 and forecast revenue of $7.975-$8.225 billion. Strong hybrid-cloud and public-cloud growth, all-flash storage demand and AI-related infrastructure upgrades are supporting the improved outlook. NetApp FY2027 Forecast and Raised EPS Outlook
• Positive Sentiment: Analysts largely raised their targets following the results. Goldman Sachs maintained a $210 target and TD Cowen reiterated its Buy rating with a $200 target, while Morgan Stanley lifted its target to $191. NetApp also expanded its AWS relationship by enabling storage migrations to Amazon FSx for NetApp ONTAP through AWS Transform.
• Neutral Sentiment: Analyst sentiment remains mixed: Citi downgraded the stock to Neutral with a $190 target, while Wedbush kept a Neutral rating despite raising its target to $170. The target changes suggest limited upside at current levels for some analysts.
• Negative Sentiment: The initial post-earnings selloff reflected a decline in free cash flow and management’s warning that second-quarter gross margin will decrease. Investors appear concerned that strong reported earnings and AI demand may not immediately translate into comparable cash generation.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on NetApp from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Barclays boosted their price target on shares of NetApp from $199.00 to $219.00 and gave the company an “overweight” rating in a research report on Thursday. Argus lifted their target price on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. upped their target price on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and an average price target of $192.07.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 2,608 shares of NetApp stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $204.48, for a total value of $533,283.84. Following the sale, the president owned 46,530 shares of the company’s stock, valued at $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the transaction, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,072 shares of company stock valued at $8,719,520 in the last 90 days. Company insiders own 0.36% of the company’s stock.

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.