Livforsakringsbolaget Skandia Omsesidigt Acquires 20,400 Shares of NetApp, Inc. $NTAP

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its NetApp stake by 18.2% in Q1, adding 20,400 shares to bring its total to 132,741 shares valued at about $13.6 million.
• NetApp reported mixed quarterly results: EPS of $2.03 missed estimates, but revenue of $1.95 billion beat expectations and rose 12.5% year over year.
• The company also announced a quarterly dividend of $0.52 per share, while analysts currently rate the stock a consensus "Hold" with an average target price of $169.33.

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 18.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,741 shares of the data storage provider's stock after purchasing an additional 20,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.07% of NetApp worth $13,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in NetApp by 1.1% in the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider's stock worth $1,091,499,000 after purchasing an additional 115,451 shares during the period. Wellington Management Group LLP raised its position in shares of NetApp by 17.1% during the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock valued at $582,296,000 after buying an additional 718,409 shares during the last quarter. Norges Bank bought a new stake in shares of NetApp during the fourth quarter valued at approximately $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NetApp by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider's stock worth $442,018,000 after buying an additional 611,003 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of NetApp by 12.6% in the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider's stock worth $393,027,000 after buying an additional 370,405 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $174.55 on Wednesday. The firm has a fifty day simple moving average of $150.42 and a two-hundred day simple moving average of $119.52. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $192.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $34.20 billion, a P/E ratio of 27.44, a PEG ratio of 3.00 and a beta of 1.46.

NetApp (NASDAQ:NTAP - Get Free Report) last announced 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). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm's quarterly 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, analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given 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 yield of 1.2%. NetApp's dividend payout ratio is 32.70%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NTAP. The Goldman Sachs Group reaffirmed a "buy" rating and set a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. Northland Securities boosted their price target on shares of NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Morgan Stanley raised their price objective on NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a research report on Friday, May 29th. Finally, Bank of America raised their price objective on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NetApp has a consensus rating of "Hold" and a consensus target price of $169.33.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 49,464 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares of the company's stock, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $170.92, for a total value of $170,920.00. Following the sale, the executive vice president owned 31,297 shares in the company, valued at $5,349,283.24. The trade was a 3.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,964 shares of company stock worth $8,181,642 over the last ninety days. Company insiders own 0.28% of the company's stock.

NetApp 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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