PensionDanmark Pensionsforsikringsaktieselskab Increases Stock Position in NetApp, Inc. $NTAP

Key Points

• PensionDanmark increased its NetApp position by 13% in the second quarter, adding 5,573 shares for a total of 48,316 shares valued at approximately $7.5 million. Institutional investors collectively own 92.17% of NetApp.
• NetApp reported quarterly revenue of $1.95 billion, up 12.5% year over year and above estimates, but earnings of $2.03 per share missed consensus by $0.24. The company maintained FY 2027 EPS guidance of $8.70–$9.00.
• NetApp’s shares opened at $189.52, near their 12-month high, while analysts maintained a consensus “Hold” rating with an average price target of $169.33. The company also pays a quarterly dividend of $0.52, yielding approximately 1.1% annually.

PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,316 shares of the data storage provider's stock after acquiring an additional 5,573 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in NetApp were worth $7,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Park Square Financial Group LLC grew its holdings in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in NetApp in the 4th quarter valued at about $30,000. DV Equities LLC purchased a new stake in NetApp during the 4th quarter valued at approximately $30,000. Roble Belko & Company Inc acquired a new stake in NetApp during the 1st quarter worth approximately $31,000. Finally, Torren Management LLC acquired a new stake in NetApp during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Price Performance

NASDAQ:NTAP opened at $189.52 on Friday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $195.70. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 3.46 and a beta of 1.45. The company's 50-day moving average is $166.95 and its two-hundred day moving average is $127.79. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Research analysts expect that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 10th. NetApp's payout ratio is presently 32.70%.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president directly owned 46,806 shares in the company, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the transaction, the executive vice president directly owned 31,297 shares in the company, valued at approximately $5,349,283.24. This represents a 3.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 52,964 shares of company stock valued at $8,181,642. Company insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NTAP. Morgan Stanley increased their price target on NetApp from $88.00 to $137.00 and gave the stock an "underweight" rating in a report on Friday, May 29th. Argus increased their price target on shares of NetApp from $130.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 1st. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Weiss Ratings upgraded shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company upped their price target on NetApp from $115.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $169.33.

NetApp Company 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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