Arbejdsmarkedets Tillaegspension Boosts Stake in NetApp, Inc. $NTAP

Arbejdsmarkedets Tillaegspension boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 22.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 242,897 shares of the data storage provider’s stock after acquiring an additional 44,611 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in NetApp were worth $24,870,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position in NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock worth $1,091,499,000 after purchasing an additional 115,451 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after acquiring an additional 718,409 shares during the last quarter. Norges Bank purchased a new position in NetApp in the fourth quarter worth about $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NetApp by 17.4% during 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 acquiring an additional 611,003 shares during the last quarter. Finally, Boston Partners increased its stake in NetApp by 12.6% during the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock worth $393,027,000 after acquiring an additional 370,405 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of analyst reports. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Northland Securities boosted their price objective on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Barclays lifted their price target on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and an average target price of $169.33.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the sale, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $163.48, for a total value of $163,480.00. Following the sale, the executive vice president owned 32,297 shares in the company, valued at $5,279,913.56. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 51,964 shares of company stock worth $8,010,722. 0.28% of the stock is owned by insiders.

NetApp Price Performance

NASDAQ NTAP opened at $163.93 on Tuesday. The firm’s 50 day moving average price is $149.21 and its 200-day moving average price is $119.06. 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 company has a market cap of $32.12 billion, a PE ratio of 25.78, a P/E/G ratio of 3.09 and a beta of 1.46. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business posted $1.93 earnings per share. The company’s revenue 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. Sell-side analysts forecast that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

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

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.