Tredje AP fonden Reduces Holdings in NetApp, Inc. $NTAP

Tredje AP fonden lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 58.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,080 shares of the data storage provider’s stock after selling 20,907 shares during the quarter. Tredje AP fonden’s holdings in NetApp were worth $1,786,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NTAP. Ascent Group LLC grew its stake in shares of NetApp by 1.5% during the third quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after buying an additional 90 shares during the last quarter. Caliber Wealth Management LLC KS grew its position in NetApp by 5.0% in the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after acquiring an additional 100 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in NetApp by 19.2% in the second quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 104 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of NetApp by 2.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock worth $655,000 after purchasing an additional 106 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of NetApp by 2.6% during the third quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock valued at $537,000 after purchasing an additional 113 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTAP. UBS Group raised their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Barclays boosted their price target on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Bank of America raised their price objective on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.86.

NetApp Stock Up 0.9%

Shares of NASDAQ NTAP opened at $102.48 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $20.30 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.25 and a beta of 1.39. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78. The stock’s fifty day simple moving average is $104.34 and its two-hundred day simple moving average is $111.54.

NetApp (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. NetApp’s dividend payout ratio is 36.17%.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the sale, the executive vice president owned 20,075 shares in the company, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.28% of the company’s stock.

About NetApp

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.