BI Asset Management Fondsmaeglerselskab A S Sells 50,187 Shares of NetApp, Inc. $NTAP

Key Points

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BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,227 shares of the data storage provider's stock after selling 50,187 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.14% of NetApp worth $24,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its holdings in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after buying an additional 251 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after purchasing an additional 225 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after purchasing an additional 100 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in NetApp in the 4th quarter worth approximately $36,000. Finally, Olde Wealth Management LLC acquired a new stake in NetApp in the 1st quarter worth approximately $29,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays boosted their target price on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Wells Fargo & Company reduced their target price on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Evercore ISI reduced their target price on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Wedbush restated a "neutral" rating and issued a $110.00 target price on shares of NetApp in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. boosted their target price on NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, NetApp has an average rating of "Hold" and a consensus target price of $119.86.

NetApp Stock Performance

Shares of NTAP stock traded up $2.74 during trading hours on Friday, reaching $110.52. 1,331,254 shares of the company's stock were exchanged, compared to its average volume of 1,462,919. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock has a market capitalization of $22.14 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.48 and a beta of 1.44. The business has a fifty day moving average price of $105.83 and a 200-day moving average price of $100.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company'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 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $105.90, for a total transaction of $105,900.00. Following the sale, the executive vice president directly owned 23,251 shares in the company, valued at approximately $2,462,280.90. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $108.85, for a total value of $925,225.00. Following the sale, the chief executive officer owned 283,688 shares in the company, valued at approximately $30,879,438.80. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,802 shares of company stock worth $2,951,604. Company insiders own 0.28% of the company's stock.

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.