Nordea Investment Management AB Has $28.95 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Nordea Investment Management AB decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,297 shares of the data storage provider’s stock after selling 14,376 shares during the quarter. Nordea Investment Management AB owned 0.12% of NetApp worth $28,951,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NTAP. Hollencrest Capital Management acquired a new position in NetApp during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of NetApp during the third quarter worth $27,000. Redwood Wealth Management Group LLC bought a new position in shares of NetApp in the 2nd quarter valued at $32,000. Hershey Financial Advisers LLC acquired a new stake in shares of NetApp during the 2nd quarter valued at $45,000. Finally, True Wealth Design LLC grew its position in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 5.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,864 shares of company stock valued at $6,185,830 over the last three months. Corporate insiders own 0.47% of the company’s stock.

NetApp Stock Down 0.7 %

Shares of NASDAQ NTAP opened at $117.18 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $23.82 billion, a PE ratio of 21.54, a P/E/G ratio of 2.92 and a beta of 1.23. The company’s fifty day simple moving average is $120.97 and its 200 day simple moving average is $123.36. NetApp, Inc. has a 12-month low of $83.62 and a 12-month high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Analysts Set New Price Targets

Several research firms have commented on NTAP. Bank of America increased their target price on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wedbush reiterated a “neutral” rating and set a $120.00 price target on shares of NetApp in a report on Friday, November 22nd. Finally, TD Cowen increased their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.20.

NetApp 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.