166,791 Shares in NetApp, Inc. $NTAP Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 166,791 shares of the data storage provider’s stock, valued at approximately $25,798,000. NetApp makes up about 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 26th largest position. Livforsakringsbolaget Skandia Omsesidigt owned about 0.08% of NetApp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Park Square Financial Group LLC grew its holdings in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp during the fourth quarter worth $30,000. DV Equities LLC acquired a new stake in NetApp during the fourth quarter valued at $30,000. Roble Belko & Company Inc purchased a new position in NetApp in the first quarter valued at about $31,000. Finally, Torren Management LLC purchased a new position in NetApp in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the subject of a number of recent research reports. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $137.00 to $173.00 in a research note on Monday, August 10th. Citigroup increased their price objective on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. Bank of America raised their price objective on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Northland Securities lifted their target price on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Wall Street Zen downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $179.77.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $187.02 on Friday. The stock has a market capitalization of $36.70 billion, a P/E ratio of 29.41, a P/E/G ratio of 3.40 and a beta of 1.45. The business has a 50-day moving average of $175.90 and a two-hundred day moving average of $138.03. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $209.06. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the company posted $1.93 EPS. The business’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts predict that NetApp, Inc. will post 7.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on 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 $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $186,488.10. This represents a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,297 shares of company stock valued at $8,758,016 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

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.