BI Asset Management Fondsmaeglerselskab A S Lowers Stock Position in NetApp, Inc. $NTAP

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 250,476 shares of the data storage provider’s stock after selling 28,751 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in NetApp were worth $26,688,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust raised its position in NetApp by 19.2% in the second quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock valued at $69,000 after purchasing an additional 104 shares during the period. Horizon Investments LLC raised its holdings in shares of NetApp by 3.8% in the 1st quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock valued at $255,000 after buying an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in NetApp by 11.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,083 shares of the data storage provider’s stock worth $115,000 after acquiring an additional 107 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in NetApp by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 7,330 shares of the data storage provider’s stock valued at $781,000 after acquiring an additional 120 shares during the period. Finally, EWA LLC grew its position in NetApp by 5.4% in the 2nd quarter. EWA LLC now owns 2,535 shares of the data storage provider’s stock valued at $270,000 after acquiring an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and set a $110.00 target price on shares of NetApp in a report on Friday, October 10th. Argus restated a “buy” rating and issued a $130.00 price target on shares of NetApp in a research note on Friday, August 29th. Bank of America increased their price objective on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Barclays boosted their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of “Moderate Buy” and a consensus target price of $124.07.

NetApp Price Performance

NetApp stock opened at $115.66 on Friday. The stock has a market cap of $22.91 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. The company has a fifty day simple moving average of $114.67 and a 200-day simple moving average of $111.41. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $127.78.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.NetApp’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last 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. Equities analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, January 2nd. NetApp’s dividend payout ratio is currently 36.17%.

Insiders Place Their Bets

In related news, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the transaction, the executive vice president owned 22,628 shares of the company’s stock, valued at $2,692,732. This represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 11,183 shares of company stock valued at $1,359,691. 0.28% of the stock is owned by corporate insiders.

About NetApp

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.