BI Asset Management Fondsmaeglerselskab A S Sells 40,293 Shares of NetApp, Inc. $NTAP

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,590 shares of the data storage provider's stock after selling 40,293 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.13% of NetApp worth $27,692,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Abich Financial Wealth Management LLC bought a new stake in shares of NetApp during the third quarter worth $27,000. Rossby Financial LCC grew its position in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 115 shares in the last quarter. Park Square Financial Group LLC grew its position in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 103 shares in the last quarter. JFS Wealth Advisors LLC grew its position in NetApp by 176.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after purchasing an additional 201 shares in the last quarter. Finally, Torren Management LLC bought a new position in NetApp in the fourth quarter valued at $34,000. Institutional investors own 92.17% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NTAP. Wall Street Zen downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research report on Sunday, April 19th. JPMorgan Chase & Co. raised their target price 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. Barclays lifted their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. Wedbush lifted their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price objective on shares of NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $169.33.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 275 shares of the business's stock in a transaction that occurred 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 directly owned 1,090 shares in the company, valued at approximately $130,800. The trade was a 20.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares of the company's stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,500 shares of company stock valued at $386,145 over the last 90 days. Corporate insiders own 0.28% of the company's stock.

NetApp Price Performance

NetApp stock opened at $167.04 on Friday. The stock's fifty day moving average price is $119.80 and its two-hundred day moving average price is $110.25. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The firm has a market cap of $32.96 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted 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). The company 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%.NetApp's revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $1.93 EPS. 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, research analysts expect that NetApp, Inc. will post 7.14 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. NetApp's payout ratio is presently 32.70%.

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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