Andra AP fonden Has $64.43 Million Position in NetApp, Inc. $NTAP

Andra AP fonden reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 28.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 601,600 shares of the data storage provider’s stock after selling 243,064 shares during the quarter. NetApp accounts for about 0.8% of Andra AP fonden’s investment portfolio, making the stock its 22nd biggest holding. Andra AP fonden’s holdings in NetApp were worth $64,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after buying an additional 101 shares during the period. Park Square Financial Group LLC boosted its position in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares during the period. Transcend Capital Advisors LLC boosted its position in shares of NetApp by 5.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after buying an additional 107 shares during the period. Fifth Third Bancorp boosted its position in shares of NetApp by 0.9% during the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after buying an additional 108 shares during the period. Finally, US Bancorp DE boosted its position in shares of NetApp by 0.7% during the third quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock worth $1,824,000 after buying an additional 114 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $160.47 on Friday. The stock has a 50 day moving average price of $124.72 and a 200 day moving average price of $111.92. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $192.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The stock has a market capitalization of $31.44 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 2.94 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its quarterly 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 company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company 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. Analysts predict that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.3%. NetApp’s dividend payout ratio is currently 32.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NTAP shares. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Barclays upped their price objective on NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Argus upped their price objective on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. UBS Group reissued a “neutral” rating and set a $160.00 price target on shares of NetApp in a research report on Friday, May 29th. Finally, Morgan Stanley increased their price target on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $169.33.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 $186,488.10. This represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This represents a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,500 shares of company stock worth $285,475 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

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.