Swedbank AB Boosts Holdings in NetApp, Inc. $NTAP

Swedbank AB increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 22.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 97,086 shares of the data storage provider’s stock after acquiring an additional 17,520 shares during the quarter. Swedbank AB’s holdings in NetApp were worth $10,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in NetApp by 94.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after purchasing an additional 886,485 shares during the period. AQR Capital Management LLC raised its holdings in NetApp by 71.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares during the period. Wellington Management Group LLP raised its holdings in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares during the period. Bank of America Corp DE raised its holdings in NetApp by 83.0% in the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after purchasing an additional 700,467 shares during the period. Finally, Citigroup Inc. raised its holdings in NetApp by 216.1% in the 3rd quarter. Citigroup Inc. now owns 927,525 shares of the data storage provider’s stock worth $109,875,000 after purchasing an additional 634,085 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Finally, The Goldman Sachs Group assumed coverage on shares of NetApp in a report on Tuesday, January 13th. They set a “buy” rating and a $128.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $122.64.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $118.00 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp, Inc. has a 1-year low of $93.23 and a 1-year high of $126.66. The company has a market capitalization of $23.28 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.34 and a beta of 1.28. The firm’s 50 day simple moving average is $102.98 and its two-hundred day simple moving average is $106.38.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. The business had revenue of $1.71 billion for 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%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts expect that NetApp, Inc. will post 6.48 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were given 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 1.8%. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the sale, the executive vice president owned 19,382 shares in the company, valued at $1,865,517.50. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $300,370 in the last quarter. Company insiders own 0.28% of the company’s stock.

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.