PensionDanmark Pensionsforsikringsaktieselskab Increases Stake in NetApp, Inc. $NTAP

PensionDanmark Pensionsforsikringsaktieselskab increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,316 shares of the data storage provider’s stock after acquiring an additional 5,573 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in NetApp were worth $7,477,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NTAP. Park Square Financial Group LLC increased its position in NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in shares of NetApp in the 4th quarter valued at $30,000. DV Equities LLC acquired a new position in shares of NetApp in the 4th quarter valued at $30,000. Roble Belko & Company Inc purchased a new stake in shares of NetApp during the 1st quarter valued at $31,000. Finally, Torren Management LLC acquired a new stake in shares of NetApp during the 4th quarter worth $34,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares in the company, valued at $7,246,504.92. This represents a 51.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the executive vice president owned 31,297 shares of the company’s stock, valued at approximately $5,349,283.24. This represents a 3.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 52,964 shares of company stock worth $8,181,642. 0.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Morgan Stanley upped their price target on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th. Argus raised their price objective on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Bank of America lifted their price objective on NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Barclays boosted their target price on NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and an average target price of $169.33.

NetApp Stock Down 1.0%

Shares of NetApp stock opened at $189.52 on Friday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $195.70. The stock has a market cap of $37.19 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 3.46 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The company has a fifty day moving average price of $166.95 and a 200 day moving average price of $127.79.

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

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, July 10th. NetApp’s dividend payout ratio (DPR) is presently 32.70%.

NetApp Company 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.