Fjarde AP Fonden Fourth Swedish National Pension Fund Has $9.42 Million Holdings in NetApp, Inc. $NTAP

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 98.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,996 shares of the data storage provider’s stock after buying an additional 45,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NetApp were worth $9,419,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. State Street Corp increased its stake in shares of NetApp by 1.1% in the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock valued at $1,091,499,000 after acquiring an additional 115,451 shares in the last quarter. Wellington Management Group LLP boosted its stake in NetApp by 17.1% during the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after acquiring an additional 718,409 shares in the last quarter. Norges Bank bought a new position in NetApp during the fourth quarter worth $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NetApp by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after purchasing an additional 611,003 shares during the period. Finally, Boston Partners increased its stake in NetApp by 12.6% in the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after purchasing an additional 370,405 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NTAP shares. Northland Securities upped their price objective on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Wells Fargo & Company raised their target price on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. UBS Group reaffirmed a “neutral” rating and issued a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. Wedbush boosted their target price on NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Susquehanna upped their price target on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Performance

NASDAQ NTAP opened at $154.17 on Friday. The company has a market cap of $30.20 billion, a P/E ratio of 24.24, a PEG ratio of 2.82 and a beta of 1.46. The company has a fifty day simple moving average of $142.29 and a 200 day simple moving average of $116.71. 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.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The business’s quarterly revenue 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. Sell-side analysts predict that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

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

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $163.48, for a total value of $163,480.00. Following the transaction, the executive vice president owned 32,297 shares of the company’s stock, valued at approximately $5,279,913.56. This trade represents a 3.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,964 shares of company stock worth $8,106,972 in the last quarter. 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.