Andra AP fonden Sells 561,948 Shares of NetApp, Inc. $NTAP

Andra AP fonden cut its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 93.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,652 shares of the data storage provider's stock after selling 561,948 shares during the quarter. Andra AP fonden's holdings in NetApp were worth $4,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC boosted its position in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc bought a new position in NetApp in the 4th quarter valued at approximately $30,000. DV Equities LLC purchased a new stake in shares of NetApp during the fourth quarter valued at $30,000. Roble Belko & Company Inc bought a new stake in shares of NetApp in the first quarter worth approximately $31,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after buying an additional 201 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president directly owned 46,806 shares of the company's stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 225 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $186,488.10. The trade was a 17.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,964 shares of company stock worth $8,181,642 in the last three months. Corporate insiders own 0.28% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $166.54 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The firm's 50 day simple moving average is $156.10 and its 200-day simple moving average is $121.82. The firm has a market cap of $32.68 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm's revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, equities analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, July 10th. NetApp's dividend payout ratio is currently 32.70%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of NetApp from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Wells Fargo & Company lifted their target price on NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 29th. Morgan Stanley increased their price objective on shares of NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a report on Friday, May 29th. Bank of America increased their target price on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, UBS Group reiterated a "neutral" rating and issued a $160.00 price target on shares of NetApp 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $169.33.

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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