Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 10,300 Shares of NetApp, Inc. $NTAP

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in NetApp, Inc. by 16.5%, selling 10,300 shares and bringing its holdings to 52,196 shares valued at approximately $4.58 million.
• Several institutional investors, including Manchester Capital Management LLC and Itau Unibanco Holding S.A., significantly increased their positions in NetApp during the first quarter, showcasing strong institutional interest.
• NetApp's recent earnings report showed a 3.8% year-over-year revenue increase, with earnings per share of $1.93, surpassing analysts' estimates of $1.90.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,196 shares of the data storage provider's stock after selling 10,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in NetApp were worth $4,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTAP. Coppell Advisory Solutions LLC lifted its position in NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after acquiring an additional 100 shares in the last quarter. Utah Retirement Systems lifted its position in NetApp by 0.3% in the 4th quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider's stock valued at $3,964,000 after acquiring an additional 100 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in NetApp by 3.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,197 shares of the data storage provider's stock valued at $371,000 after acquiring an additional 117 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in NetApp by 0.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 29,694 shares of the data storage provider's stock valued at $2,608,000 after acquiring an additional 131 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $101.78, for a total value of $865,130.00. Following the completion of the transaction, the chief executive officer directly owned 296,805 shares in the company, valued at approximately $30,208,812.90. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $105.90, for a total transaction of $105,900.00. Following the completion of the transaction, the executive vice president owned 23,251 shares of the company's stock, valued at $2,462,280.90. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,802 shares of company stock worth $2,951,604. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTAP shares. Barclays raised their price target on shares of NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Wells Fargo & Company dropped their price target on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Citigroup increased their price objective on shares of NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Evercore ISI decreased their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, NetApp presently has a consensus rating of "Hold" and an average target price of $119.21.

NetApp Stock Down 0.7%

NASDAQ:NTAP traded down $0.74 on Wednesday, hitting $108.42. The stock had a trading volume of 2,498,818 shares, compared to its average volume of 2,029,014. The firm's fifty day simple moving average is $105.42 and its two-hundred day simple moving average is $100.65. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The stock has a market cap of $21.72 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $1.80 EPS. NetApp's quarterly revenue was up 3.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. Analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. NetApp's payout ratio is currently 36.62%.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.