Nykredit A S Purchases Shares of 62,527 NetApp, Inc. $NTAP

Key Points

• Nykredit A/S acquired 62,527 NetApp shares in the second quarter, worth approximately $9.7 million. Institutional investors now own 92.17% of the company, with BlackRock and Primecap among major new holders.
• NetApp reported strong quarterly results, with adjusted earnings of $2.58 per share and revenue of $2.02 billion, exceeding analyst estimates; revenue increased 29.9% year over year.
• The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 1.1% yield. Despite analyst price targets ranging up to $219, the overall analyst consensus remains “Hold” with an average target of $193.86.

Nykredit A S acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 62,527 shares of the data storage provider's stock, valued at approximately $9,677,000.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of NetApp during the second quarter valued at approximately $2,925,168,000. Primecap Management Co. CA purchased a new position in NetApp during the 2nd quarter valued at $1,395,423,000. Norges Bank purchased a new position in NetApp during the 4th quarter valued at $458,060,000. First Trust Advisors LP raised its holdings in NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider's stock worth $374,549,000 after purchasing an additional 2,046,912 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in NetApp in the 2nd quarter worth $258,093,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Performance

Shares of NTAP opened at $197.79 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 1.30. The stock has a market cap of $38.85 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.13 and a beta of 1.44. The business's 50 day moving average price is $184.67 and its 200-day moving average price is $147.47. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company earned $1.15 EPS. The firm's revenue for the quarter was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Equities research analysts anticipate that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. NetApp's payout ratio is 29.34%.

Insiders Place Their Bets

In other NetApp news, Director Deepak Ahuja sold 3,526 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $194.04, for a total transaction of $684,185.04. Following the completion of the sale, the director directly owned 16,264 shares in the company, valued at approximately $3,155,866.56. The trade was a 17.82% decrease in their position. The sale 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 on Thursday, September 10th. The stock was sold at an average price of $184.74, for a total value of $184,740.00. Following the completion of the sale, the executive vice president directly owned 30,737 shares of the company's stock, valued at $5,678,353.38. The trade was a 3.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 104,538 shares of company stock worth $18,241,313 in the last quarter. Insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research reports. Evercore set a $210.00 target price on shares of NetApp in a research note on Monday, August 24th. Citigroup decreased their price target on shares of NetApp from $209.00 to $190.00 and set a "neutral" rating for the company in a research note on Thursday, September 3rd. Barclays raised their price objective on shares of NetApp from $199.00 to $219.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Morgan Stanley lifted their price objective on NetApp from $173.00 to $191.00 and gave the company an "equal weight" rating in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. increased their target price on NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $193.86.

NetApp Profile

NetApp, Inc NASDAQ: NTAP is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company's portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.