Danske Bank A S Takes $42.81 Million Position in NetApp, Inc. $NTAP

Danske Bank A S acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 361,387 shares of the data storage provider’s stock, valued at approximately $42,810,000. Danske Bank A S owned 0.18% of NetApp as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of NetApp by 38.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after acquiring an additional 210 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of NetApp in the 2nd quarter worth approximately $315,000. Boston Partners increased its stake in NetApp by 108.9% in the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after purchasing an additional 1,536,339 shares in the last quarter. Creative Planning increased its stake in NetApp by 50.0% in the 2nd quarter. Creative Planning now owns 47,452 shares of the data storage provider’s stock valued at $5,056,000 after purchasing an additional 15,822 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in NetApp by 8.9% during the second quarter. Cetera Investment Advisers now owns 73,177 shares of the data storage provider’s stock worth $7,797,000 after purchasing an additional 5,954 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 1.1%

Shares of NASDAQ:NTAP opened at $100.77 on Thursday. The company has a market capitalization of $19.88 billion, a P/E ratio of 16.85, a P/E/G ratio of 3.16 and a beta of 1.39. The stock’s fifty day simple moving average is $100.97 and its 200-day simple moving average is $110.33. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $126.66. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. NetApp’s dividend payout ratio (DPR) is 34.78%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NTAP shares. UBS Group boosted their target price on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Citigroup raised their price target on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. Bank of America boosted their price objective on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company increased their price objective on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $122.42.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total value of $100,670.00. Following the completion of the transaction, the executive vice president directly owned 20,382 shares in the company, valued at approximately $2,051,855.94. This represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $309,610 over the last ninety days. 0.28% of the stock is owned by insiders.

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.