NetApp, Inc. $NTAP Shares Sold by Andra AP fonden

Andra AP fonden trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 93.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,652 shares of the data storage provider’s stock after selling 561,948 shares during the quarter. Andra AP fonden’s holdings in NetApp were worth $4,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NTAP. State Street Corp boosted its holdings in 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 purchasing an additional 115,451 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after purchasing an additional 718,409 shares in the last quarter. Norges Bank purchased a new stake in shares of NetApp during the fourth quarter worth $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NetApp by 17.4% during the 4th 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 raised its holdings 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 acquiring an additional 370,405 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the sale, the president directly owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the completion of the transaction, the executive vice president owned 31,297 shares of the company’s stock, valued at $5,349,283.24. This trade represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,964 shares of company stock worth $8,181,642 in the last three months. 0.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on NTAP. The Goldman Sachs Group restated a “buy” rating and issued a $200.00 price target on shares of NetApp in a research note on Tuesday, June 2nd. Barclays lifted their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Argus upped their price target on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Wells Fargo & Company raised their price objective on shares of NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $169.33.

NetApp Stock Up 0.5%

Shares of NASDAQ:NTAP opened at $166.54 on Thursday. The stock has a 50-day simple moving average of $156.10 and a 200-day simple moving average of $121.82. NetApp, Inc. has a 1 year low of $93.69 and a 1 year 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 $32.68 billion, a P/E ratio of 26.19, a PEG ratio of 3.03 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities analysts forecast that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

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

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.