Handelsbanken Fonder AB Purchases 135,715 Shares of NetApp, Inc. $NTAP

Key Points

• Handelsbanken Fonder AB increased its NetApp stake by 106.8% in Q4, buying 135,715 additional shares and bringing its total holding to 262,732 shares worth about $28.1 million.
• Other institutional investors also added to NetApp positions, and overall 92.17% of the stock is owned by institutions, showing heavy professional ownership.
• NetApp reported better-than-expected quarterly results, with EPS of $2.12 and revenue of $1.71 billion, while also maintaining a quarterly dividend of $0.52 per share and issuing full-year guidance for FY 2026.

Handelsbanken Fonder AB lifted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 106.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,732 shares of the data storage provider's stock after buying an additional 135,715 shares during the quarter. Handelsbanken Fonder AB owned about 0.13% of NetApp worth $28,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in NetApp by 4.9% during the third quarter. Envestnet Asset Management Inc. now owns 432,772 shares of the data storage provider's stock worth $51,266,000 after purchasing an additional 20,089 shares during the period. Citigroup Inc. boosted its position in NetApp by 216.1% during the third 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. National Pension Service boosted its position in NetApp by 26.0% during the third quarter. National Pension Service now owns 159,274 shares of the data storage provider's stock worth $18,868,000 after purchasing an additional 32,833 shares during the period. Arbejdsmarkedets Tillaegspension bought a new position in NetApp during the fourth quarter worth $21,234,000. Finally, J. Safra Sarasin Holding AG boosted its position in NetApp by 496.7% during the third quarter. J. Safra Sarasin Holding AG now owns 18,168 shares of the data storage provider's stock worth $2,152,000 after purchasing an additional 15,123 shares during the period. 92.17% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was 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 owned 18,382 shares of the company's stock, valued at $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 3,000 shares of company stock valued at $314,650 over the last three months. Corporate insiders own 0.28% of the company's stock.

NetApp Stock Down 0.0%

Shares of NASDAQ NTAP opened at $120.59 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The company has a market cap of $23.80 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.42 and a beta of 1.28. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $126.66. The stock has a 50-day moving average price of $105.97 and a two-hundred day moving average price of $106.50.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business's quarterly revenue 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. As a group, analysts forecast that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp's dividend payout ratio is currently 34.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NTAP shares. Wall Street Zen cut shares of NetApp from a "buy" rating to a "hold" rating in a research report on Sunday, April 19th. Weiss Ratings cut shares of NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 13th. Wedbush reissued a "neutral" rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. Citigroup downgraded NetApp from a "neutral" rating to a "mixed" rating in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. downgraded NetApp from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $122.64.

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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