Forsta AP Fonden Acquires 77,900 Shares of NetApp, Inc. $NTAP

Forsta AP Fonden grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 134.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,000 shares of the data storage provider’s stock after acquiring an additional 77,900 shares during the quarter. Forsta AP Fonden owned 0.07% of NetApp worth $14,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Manchester Capital Management LLC boosted its holdings in NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 225 shares during the period. 1248 Management LLC bought a new stake in shares of NetApp in the first quarter valued at about $25,000. Harbour Investments Inc. grew its position in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in NetApp during the second quarter valued at about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $111.57 on Thursday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The business’s fifty day moving average price is $119.06 and its two-hundred day moving average price is $109.01. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

Insider Activity

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,029 shares of company stock worth $2,338,294. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTAP. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Argus reaffirmed a “buy” rating and issued a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Northland Securities increased their price objective on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Finally, UBS Group raised their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.07.

NetApp Company Profile

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.