NetApp, Inc. $NTAP Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in NetApp by 2.0%, now owning approximately 0.17% of the company worth $35.8 million.
• NetApp's recent earnings report showed $1.19 earnings per share, missing analyst expectations, despite revenue increasing 1.2% year-over-year.
• Analysts have a consensus rating of "Hold" for NetApp, with recent price targets from various firms ranging from $110 to $125.

Nordea Investment Management AB raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 336,347 shares of the data storage provider's stock after buying an additional 6,454 shares during the period. Nordea Investment Management AB owned approximately 0.17% of NetApp worth $35,834,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC increased its stake in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after buying an additional 225 shares during the period. 1248 Management LLC acquired a new position in NetApp during the 1st quarter valued at about $25,000. Harbour Investments Inc. boosted its position in shares of NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in shares of NetApp during the 2nd quarter valued at about $28,000. Finally, Olde Wealth Management LLC bought a new position in shares of NetApp during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the transaction, the executive vice president directly owned 23,628 shares in the company, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,529 shares of company stock valued at $3,362,874. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NTAP. Bank of America raised their price objective on shares of NetApp from $121.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Northland Securities raised their price objective on shares of NetApp from $119.00 to $120.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Barclays raised their price objective on shares of NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Weiss Ratings restated a "hold (c+)" rating on shares of NetApp in a research report on Wednesday, October 8th. Finally, Wedbush reiterated a "neutral" rating and issued a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $122.40.

NetApp Stock Performance

Shares of NTAP opened at $119.07 on Friday. The company has a 50-day moving average of $117.42 and a two-hundred day moving average of $104.68. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The stock has a market cap of $23.77 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.59 and a beta of 1.45. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.54 by ($0.35). The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.NetApp's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's dividend payout ratio (DPR) is presently 36.75%.

NetApp 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.

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