Andra AP fonden Has $64.43 Million Position in NetApp, Inc. $NTAP

Key Points

• Andra AP fonden reduced its NetApp stake by 28.8% in the fourth quarter, selling 243,064 shares and ending with 601,600 shares valued at about $64.4 million. NetApp now makes up roughly 0.8% of the fund’s portfolio.
• NetApp’s latest quarter was mixed: revenue rose 12.5% year over year to $1.95 billion and topped estimates, but adjusted EPS of $2.03 missed analysts’ expectations of $2.27. The company also guided FY2027 EPS to 8.70-9.00 and Q1 2027 EPS to 2.05-2.15.
• Wall Street remains cautious overall despite several higher price targets, with NetApp carrying a consensus “Hold” rating and an average target price of $169.33. The company also announced a $0.52 quarterly dividend, implying a 1.3% yield.

Andra AP fonden lowered its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 601,600 shares of the data storage provider's stock after selling 243,064 shares during the quarter. NetApp comprises about 0.8% of Andra AP fonden's investment portfolio, making the stock its 22nd largest position. Andra AP fonden owned 0.30% of NetApp worth $64,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NTAP. Abich Financial Wealth Management LLC bought a new stake in shares of NetApp during the third quarter worth $27,000. Rossby Financial LCC raised its position in shares of NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after acquiring an additional 115 shares during the last quarter. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after acquiring an additional 103 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of NetApp by 176.3% during the fourth 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 during the last quarter. Finally, Torren Management LLC bought a new stake in shares of NetApp during the fourth quarter worth $34,000. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Trading Down 0.1%

NASDAQ NTAP opened at $160.47 on Friday. The stock has a 50-day simple moving average of $124.72 and a 200 day simple moving average of $111.92. The company has a market capitalization of $31.44 billion, a PE ratio of 25.23, a P/E/G ratio of 2.94 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. 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 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $1.93 EPS. The company's revenue for the quarter 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. Research analysts forecast that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's payout ratio is presently 32.70%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTAP. JPMorgan Chase & Co. boosted their target price on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Northland Securities boosted their target price on NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Wedbush boosted their target price on NetApp from $115.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Susquehanna boosted their target price on NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Citigroup boosted their target price on NetApp from $114.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NetApp has a consensus rating of "Hold" and an average target price of $169.33.

Insider Transactions at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction dated Monday, May 18th. The stock was 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 directly owned 1,090 shares of the company's stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares of the company's stock, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,500 shares of company stock valued at $285,475. Insiders own 0.28% of the company's stock.

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.

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