Livforsakringsbolaget Skandia Omsesidigt Increases Stock Holdings in NetApp, Inc. $NTAP

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,341 shares of the data storage provider’s stock after buying an additional 12,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned about 0.06% of NetApp worth $12,029,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NTAP. Rossby Financial LCC boosted its position in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in NetApp in the third quarter worth $27,000. Park Square Financial Group LLC boosted its position in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in NetApp in the third quarter worth $35,000. Finally, JFS Wealth Advisors LLC boosted its position in NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NTAP opened at $178.87 on Friday. The firm has a market cap of $35.30 billion, a PE ratio of 28.12, a PEG ratio of 3.32 and a beta of 1.45. The stock’s fifty day moving average price is $118.57 and its two-hundred day moving average price is $109.85. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. NetApp, Inc. has a 1 year low of $93.69 and a 1 year high of $192.83.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, equities research analysts forecast that NetApp, Inc. will post 7.14 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. NetApp’s payout ratio is presently 32.70%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,500 shares of company stock worth $386,145. Corporate insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Susquehanna boosted their price objective on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Bank of America boosted their price objective on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Argus boosted their price objective on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday. Wedbush boosted their price objective on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Citigroup boosted their price objective on NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp’s updated fiscal 2027 guidance points to improved margins and higher earnings potential, which investors are viewing as the main driver behind the stock’s recent strength.
• Positive Sentiment: The company announced new collaborations with Cisco to expand secure, simplified AI solutions and strengthen cyber resilience, which could help NetApp benefit from enterprise AI spending. NetApp and Cisco Accelerate and Secure AI Innovation
• Positive Sentiment: NetApp has also been drawing analyst and investor attention after its earnings call, with questions centered on the company’s AI opportunity, margins, and growth outlook. The 5 Most Interesting Analyst Questions From NetApp’s Q1 Earnings Call

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.