878,765 Shares in NetApp, Inc. $NTAP Bought by SEB Asset Management AB

Key Points

• SEB Asset Management AB disclosed a new first-quarter stake in NetApp, buying 878,765 shares valued at about $90 million and representing 0.45% of the company.
• Institutional ownership in NetApp remains very high at 92.17%, and several other funds recently added or increased positions, signaling continued interest from large investors.
• NetApp’s recent earnings were mixed: revenue beat expectations at $1.95 billion and rose 12.5% year over year, but EPS of $2.03 fell short of analyst estimates; meanwhile, analysts remain broadly cautious with a consensus Hold rating and an average target price of $169.33.

SEB Asset Management AB acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 878,765 shares of the data storage provider's stock, valued at approximately $89,977,000. SEB Asset Management AB owned 0.45% of NetApp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in NetApp during the 4th quarter valued at $458,060,000. Jefferies Financial Group Inc. bought a new position in NetApp in the 4th quarter valued at $14,869,000. Handelsbanken Fonder AB increased its stake in NetApp by 106.8% in the fourth quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider's stock worth $28,136,000 after purchasing an additional 135,715 shares during the period. National Pension Service increased its stake in NetApp by 13.6% in the fourth quarter. National Pension Service now owns 180,917 shares of the data storage provider's stock worth $19,374,000 after purchasing an additional 21,643 shares during the period. Finally, Swedbank AB lifted its position in shares of NetApp by 22.0% during the fourth quarter. Swedbank AB now owns 97,086 shares of the data storage provider's stock worth $10,397,000 after purchasing an additional 17,520 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the sale, the executive vice president owned 31,297 shares of the company's stock, valued at approximately $5,349,283.24. This trade represents a 3.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This represents a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,964 shares of company stock valued at $8,181,642 over the last ninety days. 0.28% of the stock is owned by company insiders.

NetApp Stock Performance

Shares of NetApp stock opened at $163.88 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The stock's fifty day moving average price is $153.28 and its 200-day moving average price is $120.54. The firm has a market cap of $32.11 billion, a P/E ratio of 25.77, a P/E/G ratio of 2.99 and a beta of 1.46. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the company earned $1.93 earnings per share. The firm'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. On average, equities research analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp's dividend payout ratio (DPR) is currently 32.70%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTAP. Northland Securities boosted their target price on shares of NetApp from $137.00 to $171.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Wedbush raised their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Citigroup lifted their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. JPMorgan Chase & Co. boosted their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, Susquehanna upped their target price on shares of NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $169.33.

About NetApp

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.

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