Forsta AP Fonden Buys 77,900 Shares of NetApp, Inc. $NTAP

Forsta AP Fonden lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 134.1% during the second quarter, Holdings Channel.com reports. The firm owned 136,000 shares of the data storage provider’s stock after buying an additional 77,900 shares during the period. Forsta AP Fonden’s holdings in NetApp were worth $14,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Burns Matteson Capital Management LLC bought a new position in NetApp in the first quarter valued at about $321,000. Dynamic Technology Lab Private Ltd raised its holdings in NetApp by 119.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 3,193 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in NetApp by 17.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock valued at $71,563,000 after purchasing an additional 122,784 shares during the period. Aurora Investment Counsel bought a new position in shares of NetApp in the 2nd quarter valued at about $2,337,000. Finally, Citizens Financial Group Inc. RI grew its position in shares of NetApp by 6.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock worth $5,311,000 after buying an additional 3,704 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $119.00, for a total value of $119,000.00. Following the transaction, the executive vice president directly owned 22,628 shares of the company’s stock, valued at $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,029 shares of company stock worth $2,338,294 over the last ninety days. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NTAP shares. Morgan Stanley set a $117.00 price objective on shares of NetApp in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Wedbush reaffirmed a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Bank of America increased their target price on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Finally, Citigroup decreased their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.07.

NetApp Stock Up 1.0%

NASDAQ:NTAP opened at $111.57 on Thursday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The stock has a 50-day moving average price of $119.06 and a two-hundred day moving average price of $109.01. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.48 and a beta of 1.46. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $1.56 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, equities analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s dividend payout ratio is currently 36.75%.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.