SEB Asset Management AB Invests $89.98 Million in NetApp, Inc. $NTAP

SEB Asset Management AB acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 878,765 shares of the data storage provider’s stock, valued at approximately $89,977,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in NetApp in the fourth quarter worth $14,869,000. Norges Bank purchased a new stake in shares of NetApp during the 4th quarter valued at $458,060,000. Handelsbanken Fonder AB boosted its position in shares of NetApp by 106.8% in the 4th quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider’s stock worth $28,136,000 after purchasing an additional 135,715 shares in the last quarter. National Pension Service boosted its position in shares of NetApp by 13.6% in the 4th quarter. National Pension Service now owns 180,917 shares of the data storage provider’s stock worth $19,374,000 after purchasing an additional 21,643 shares in the last quarter. Finally, Swedbank AB grew its stake in NetApp by 22.0% during the 4th quarter. Swedbank AB now owns 97,086 shares of the data storage provider’s stock worth $10,397,000 after buying an additional 17,520 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Goldman Sachs reiterated a Buy rating on NetApp and kept its $200 price target, citing the company’s AI-driven storage capabilities and potential to support emerging “agentic” workloads. Article Title
• Positive Sentiment: Susquehanna reportedly had a largely positive view of NetApp heading into the second half of the year, reinforcing optimism around the stock’s outlook after recent earnings. Article Title
• Positive Sentiment: NetApp’s acquisition of DataPelago was framed as a strategic move to make data AI-ready at the infrastructure layer, potentially strengthening its long-term position in AI and analytics. Article Title
• Neutral Sentiment: Market commentary said NetApp stock is pausing after earnings, with support at the 10-week moving average potentially offering an entry point for investors. Article Title
• Neutral Sentiment: Additional coverage highlighted NetApp as a long-term growth name and noted new trading products tied to the stock, which may be helping keep investor attention elevated. Article Title

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Argus raised their price target on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Susquehanna boosted their price target on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Bank of America upped their price objective on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $169.33.

NetApp Price Performance

Shares of NTAP opened at $163.88 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The company’s fifty day moving average price is $153.28 and its 200-day moving average price is $120.54. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The firm has a market capitalization of $32.11 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business earned $1.93 EPS. The business’s revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, equities research analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. NetApp’s dividend payout ratio is currently 32.70%.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $170.92, for a total value of $170,920.00. Following the sale, the executive vice president owned 31,297 shares in the company, valued at $5,349,283.24. This represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,964 shares of company stock worth $8,181,642 over the last three months. 0.28% of the stock is currently owned by insiders.

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.