408,696 Shares in NetApp, Inc. $NTAP Purchased by PFA Pension Forsikringsaktieselskab

PFA Pension Forsikringsaktieselskab purchased a new position in NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, HoldingsChannel reports. The fund purchased 408,696 shares of the data storage provider’s stock, valued at approximately $44,311,000.

A number of other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its stake in NetApp by 4.9% in the third quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider’s stock valued at $51,266,000 after acquiring an additional 20,089 shares in the last quarter. Citigroup Inc. boosted its stake in NetApp by 216.1% in the third quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock valued at $109,875,000 after acquiring an additional 634,085 shares in the last quarter. National Pension Service boosted its stake in NetApp by 26.0% in the third quarter. National Pension Service now owns 159,274 shares of the data storage provider’s stock valued at $18,868,000 after acquiring an additional 32,833 shares in the last quarter. J. Safra Sarasin Holding AG boosted its stake in NetApp by 496.7% in the third quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider’s stock valued at $2,152,000 after acquiring an additional 15,123 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in NetApp by 515.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 115,757 shares of the data storage provider’s stock valued at $13,713,000 after acquiring an additional 96,937 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. The Goldman Sachs Group assumed coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Citigroup upped their price objective on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. downgraded shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, NetApp presently has a consensus rating of “Hold” and an average price target of $122.64.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president owned 19,382 shares in the company, valued at approximately $1,865,517.50. This represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,000 shares of company stock worth $300,370 in the last three months. 0.28% of the stock is currently owned by corporate insiders.

NetApp Price Performance

Shares of NTAP opened at $112.08 on Friday. NetApp, Inc. has a fifty-two week low of $90.86 and a fifty-two week high of $126.66. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.47 and a beta of 1.28. The firm has a 50-day simple moving average of $102.26 and a 200-day simple moving average of $106.63. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $1.91 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities research analysts anticipate that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s dividend payout ratio is 34.78%.

NetApp 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.