Skandinaviska Enskilda Banken AB publ Has $93.79 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its holdings in NetApp, Inc. by 5.0%, now owning approximately 1,067,771 shares valued at $93.8 million.
• Several institutional investors, including Norges Bank and Pacer Advisors Inc., have recently modified their stakes in NetApp, indicating a broader interest from hedge funds.
• NetApp has reported a quarterly dividend of $0.52, with a yield of 1.99%, reflecting a payout ratio of 36.62% and a strong quarterly performance that exceeded analysts' expectations.

Skandinaviska Enskilda Banken AB publ lessened its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,067,771 shares of the data storage provider's stock after selling 55,993 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.52% of NetApp worth $93,793,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in NetApp by 39.6% during the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock worth $3,250,000 after acquiring an additional 10,494 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in NetApp during the fourth quarter worth $5,151,000. Achmea Investment Management B.V. raised its position in NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock worth $19,492,000 after acquiring an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in NetApp during the first quarter worth $321,000. Finally, World Investment Advisors raised its position in NetApp by 62.2% during the fourth quarter. World Investment Advisors now owns 12,976 shares of the data storage provider's stock worth $1,506,000 after acquiring an additional 4,978 shares in the last quarter. Institutional investors own 92.17% of the company's stock.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $106.84, for a total transaction of $106,840.00. Following the sale, the executive vice president directly owned 24,251 shares in the company, valued at $2,590,976.84. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $108.08, for a total transaction of $918,680.00. Following the completion of the sale, the chief executive officer owned 288,305 shares in the company, valued at approximately $31,160,004.40. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,302 shares of company stock worth $1,920,479 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

NetApp Price Performance

NetApp stock traded down $0.98 during trading hours on Tuesday, reaching $105.93. 448,939 shares of the stock were exchanged, compared to its average volume of 2,079,836. The company has a market cap of $21.22 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a 50 day moving average of $103.87 and a two-hundred day moving average of $102.24.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 earnings per share. Equities analysts expect 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. Shareholders of record on Thursday, July 3rd were paid 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 yield of 1.96%. NetApp's payout ratio is 36.62%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reissued a "neutral" rating and issued a $110.00 price objective on shares of NetApp in a research report on Friday, May 30th. Evercore ISI dropped their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. 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 report on Thursday, July 17th. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Finally, Citigroup increased their price objective on shares of NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, NetApp currently has an average rating of "Hold" and a consensus price target of $118.86.

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.