NetApp, Inc. $NTAP Stock Position Boosted by Swedbank AB

Swedbank AB boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 22.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,086 shares of the data storage provider’s stock after buying an additional 17,520 shares during the period. Swedbank AB’s holdings in NetApp were worth $10,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Abich Financial Wealth Management LLC bought a new position in NetApp in the 3rd quarter valued at about $27,000. Rossby Financial LCC grew its position in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares in the last quarter. Park Square Financial Group LLC grew its position in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares in the last quarter. JFS Wealth Advisors LLC grew its position in NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after buying an additional 201 shares in the last quarter. Finally, Torren Management LLC bought a new position in NetApp in the 4th quarter valued at about $34,000. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,275 shares of company stock valued at $347,650. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Citigroup lowered shares of NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday, May 14th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, Bank of America raised their price objective on shares of NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.27.

NetApp Stock Performance

NASDAQ:NTAP opened at $138.95 on Wednesday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $142.42. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The company has a 50-day moving average of $109.37 and a 200-day moving average of $107.07. The firm has a market cap of $27.42 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28.

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

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

NetApp 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.