Danske Bank A S Cuts Stock Holdings in NetApp, Inc. $NTAP

Danske Bank A S trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 62.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 134,579 shares of the data storage provider’s stock after selling 226,808 shares during the period. Danske Bank A S’s holdings in NetApp were worth $14,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC purchased a new stake in NetApp in the 3rd quarter worth $27,000. Rossby Financial LCC increased its holdings in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in NetApp by 176.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock worth $34,000 after acquiring an additional 201 shares in the last quarter. Torren Management LLC purchased a new stake in NetApp in the 4th quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in NetApp in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $112.08 on Monday. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 3.17 and a beta of 1.28. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 12 month low of $90.86 and a 12 month high of $126.66. The firm has a 50-day moving average of $102.26 and a two-hundred day moving average of $106.53.

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

NetApp Announces Dividend

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

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the completion of the sale, the executive vice president owned 19,382 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 3,000 shares of company stock worth $300,370. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Wall Street Zen lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. The Goldman Sachs Group assumed coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. Finally, JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $122.64.

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.