NetApp, Inc. $NTAP Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.7% during the 3rd quarter, Holdings Channel reports. The firm owned 99,541 shares of the data storage provider’s stock after buying an additional 8,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in NetApp were worth $11,785,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of NetApp by 67.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 636,058 shares of the data storage provider’s stock worth $75,347,000 after purchasing an additional 255,333 shares during the period. Morningstar Investment Management LLC increased its holdings in NetApp by 71.9% in the 3rd quarter. Morningstar Investment Management LLC now owns 5,230 shares of the data storage provider’s stock worth $620,000 after buying an additional 2,188 shares during the period. Kestra Private Wealth Services LLC raised its position in NetApp by 18.6% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 9,572 shares of the data storage provider’s stock worth $1,134,000 after buying an additional 1,503 shares during the last quarter. Woodline Partners LP raised its position in NetApp by 808.1% during the 3rd quarter. Woodline Partners LP now owns 210,913 shares of the data storage provider’s stock worth $24,985,000 after buying an additional 187,686 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in NetApp during the 3rd quarter valued at approximately $1,856,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total transaction of $100,670.00. Following the transaction, the executive vice president directly owned 20,382 shares of the company’s stock, valued at $2,051,855.94. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 3,000 shares of company stock worth $309,610 in the last ninety days. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Down 0.3%

Shares of NTAP opened at $101.92 on Wednesday. The firm has a market cap of $20.11 billion, a P/E ratio of 17.04, a PEG ratio of 3.17 and a beta of 1.39. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $126.66. The stock’s 50 day moving average is $101.04 and its two-hundred day moving average is $110.40. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $1.91 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. NetApp’s dividend payout ratio is currently 34.78%.

Analysts Set New Price Targets

Several analysts have recently commented on NTAP shares. Citigroup upped their price objective on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a report on Wednesday, November 26th. Bank of America boosted their target price on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Finally, The Goldman Sachs Group initiated coverage on NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $122.42.

NetApp 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.