Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 19,000 Shares of NetApp, Inc. $NTAP

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 29.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 46,296 shares of the data storage provider’s stock after selling 19,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NetApp were worth $4,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rossby Financial LCC grew its holdings in shares of NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp during the 3rd quarter worth approximately $27,000. 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 worth $29,000 after acquiring an additional 103 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of NetApp during the 3rd quarter worth approximately $35,000. Finally, JFS Wealth Advisors LLC grew its holdings in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NTAP shares. Susquehanna upped their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Northland Securities upped their target price on NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Bank of America upped their target price on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wedbush upped their price target on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, UBS Group restated a “neutral” rating and issued a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $169.33.

NetApp Stock Performance

Shares of NTAP opened at $170.31 on Tuesday. The business’s fifty day simple moving average is $121.12 and its two-hundred day simple moving average is $110.73. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The company has a market cap of $33.61 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 3.06 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts anticipate that NetApp, Inc. will post 7.14 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio (DPR) is currently 32.70%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction 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 SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the sale, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. This represents a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,500 shares of company stock worth $285,475. Company insiders own 0.28% 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.