Tredje AP fonden Cuts Stock Position in NetApp, Inc. $NTAP

Tredje AP fonden decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 58.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,080 shares of the data storage provider’s stock after selling 20,907 shares during the period. Tredje AP fonden’s holdings in NetApp were worth $1,786,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in NetApp during the second quarter worth $281,093,000. Boston Partners grew its position in shares of NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after purchasing an additional 1,536,339 shares during the period. Geode Capital Management LLC increased its stake in shares of NetApp by 16.8% during the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after purchasing an additional 1,024,626 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of NetApp by 103.6% during the 3rd quarter. Pacer Advisors Inc. now owns 1,783,103 shares of the data storage provider’s stock worth $211,226,000 after purchasing an additional 907,233 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of NetApp by 83.0% during the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after purchasing an additional 700,467 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $102.48 on Monday. The business’s fifty day moving average price is $104.34 and its 200 day moving average price is $111.54. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The company has a market capitalization of $20.30 billion, a PE ratio of 17.82, a P/E/G ratio of 2.25 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.NetApp’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 EPS. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. On average, sell-side analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were issued a dividend of $0.52 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. NetApp’s dividend payout ratio is 36.17%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTAP. UBS Group lifted their price objective on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Wells Fargo & Company lifted their price target on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. Northland Securities set a $137.00 target price on shares of NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Barclays boosted their price objective on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Finally, Bank of America lifted their price target on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, NetApp currently has an average rating of “Moderate Buy” and a consensus target price of $122.86.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the sale, the executive vice president owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is owned by corporate insiders.

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.