Danske Bank A S Buys Shares of 166,239 NetApp, Inc. $NTAP

Danske Bank A S bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 166,239 shares of the data storage provider’s stock, valued at approximately $25,727,000.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in NetApp during the 2nd quarter worth $315,000. Cerity Partners LLC grew its holdings in shares of NetApp by 9.9% during the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after buying an additional 4,232 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of NetApp by 7.3% during the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after buying an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after buying an additional 2,277 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares of the company’s stock, valued at $5,872,164.54. This represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $186,488.10. This represents a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,297 shares of company stock worth $8,758,016 in the last ninety days. 0.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Wall Street Zen cut shares of NetApp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 29th. Wedbush increased their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. UBS Group reissued a “neutral” rating and issued a $160.00 target price on shares of NetApp in a research note on Friday, May 29th. Finally, Susquehanna boosted their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $177.25.

NetApp Stock Down 5.0%

Shares of NTAP opened at $194.48 on Thursday. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The stock has a fifty day simple moving average of $171.67 and a two-hundred day simple moving average of $133.81. The company has a market capitalization of $38.16 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 3.67 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm posted $1.93 EPS. 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. As a group, equities analysts forecast that NetApp, Inc. will post 7.3 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s payout ratio is presently 32.70%.

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.