Nordea Investment Management AB Purchases 6,454 Shares of NetApp, Inc. $NTAP

Nordea Investment Management AB grew its position in NetApp, Inc. (NASDAQ:NTAP) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 336,347 shares of the data storage provider’s stock after purchasing an additional 6,454 shares during the quarter. Nordea Investment Management AB’s holdings in NetApp were worth $35,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of NetApp by 2.3% in the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after acquiring an additional 597,956 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of NetApp by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after acquiring an additional 72,223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NetApp by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after acquiring an additional 560,218 shares during the last quarter. Invesco Ltd. grew its stake in shares of NetApp by 12.3% in the first quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock worth $308,107,000 after acquiring an additional 384,362 shares during the last quarter. Finally, Amundi grew its stake in shares of NetApp by 11.8% in the first quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock worth $183,209,000 after acquiring an additional 230,793 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of NetApp from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America lifted their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. JPMorgan Chase & Co. lifted their price target on shares of NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Northland Securities lifted their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Finally, Wedbush reiterated a “neutral” rating and set a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $122.40.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the transaction, the executive vice president directly owned 23,628 shares of the company’s stock, valued at $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,529 shares of company stock valued at $3,362,874 over the last ninety days. 0.28% of the stock is owned by insiders.

NetApp Stock Down 0.3%

Shares of NASDAQ:NTAP opened at $119.07 on Friday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company’s fifty day moving average is $117.42 and its 200-day moving average is $104.68. The company has a market capitalization of $23.77 billion, a PE ratio of 21.04, a P/E/G ratio of 2.59 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.