NetApp, Inc. $NTAP Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its position in NetApp, Inc. (NASDAQ:NTAP) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 322,940 shares of the data storage provider’s stock after selling 13,407 shares during the period. Nordea Investment Management AB’s holdings in NetApp were worth $38,071,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. increased its holdings in shares of NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in NetApp in the second quarter worth approximately $28,000. CVA Family Office LLC increased its stake in NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 219 shares during the last quarter. SouthState Corp increased its stake in NetApp by 434.5% during the second quarter. SouthState Corp now owns 294 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 239 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in NetApp in the second quarter valued at $34,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the transaction, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,654 shares of company stock valued at $175,782 in the last quarter. Company insiders own 0.28% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $107.67 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $127.78. The firm has a market cap of $21.33 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.37 and a beta of 1.38. The company’s 50 day moving average is $110.50 and its two-hundred day moving average is $112.40.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. On average, research 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 given a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. NetApp’s dividend payout ratio (DPR) is currently 36.17%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NTAP shares. Citigroup lowered their price target on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Wells Fargo & Company increased their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. Bank of America boosted their price target on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. UBS Group upped their price objective on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Finally, William Blair reiterated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.33.

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.