Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 19,000 Shares of NetApp, Inc. $NTAP

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 29.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 46,296 shares of the data storage provider’s stock after selling 19,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NetApp were worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Caliber Wealth Management LLC KS lifted its holdings in shares of NetApp by 5.0% during the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after buying an additional 100 shares during the period. Parallel Advisors LLC lifted its holdings in shares of NetApp by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after buying an additional 101 shares during the period. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the period. Transcend Capital Advisors LLC lifted its holdings in shares of NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after buying an additional 107 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of NetApp by 0.9% during the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after buying an additional 108 shares during the period. 92.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NTAP has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. UBS Group reissued a “neutral” rating and set a $160.00 price target on shares of NetApp in a report on Friday, May 29th. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Wells Fargo & Company raised their target price on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, Morgan Stanley raised their target price on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.33.

NetApp Trading Up 2.0%

Shares of NTAP stock opened at $170.31 on Tuesday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week 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 firm has a market capitalization of $33.61 billion, a PE ratio of 26.78, a PEG ratio of 3.06 and a beta of 1.44. The stock has a fifty day simple moving average of $121.12 and a two-hundred day simple moving average of $110.73.

NetApp (NASDAQ:NTAP) last issued 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 return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. 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, analysts predict that NetApp, Inc. will post 7.14 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. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp’s dividend payout ratio is presently 32.70%.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,500 shares of company stock valued at $285,475 in the last quarter. 0.28% of the stock is currently owned by company 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.