Oddo BHF Asset Management Sas Acquires 18,755 Shares of NetApp, Inc. $NTAP

Oddo BHF Asset Management Sas boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 34.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 73,038 shares of the data storage provider’s stock after acquiring an additional 18,755 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in NetApp were worth $7,478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after purchasing an additional 101 shares during the period. Park Square Financial Group LLC increased its holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Assetmark Inc. lifted its stake in NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after buying an additional 104 shares during the period. Transcend Capital Advisors LLC boosted its holdings in NetApp by 5.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after buying an additional 107 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of NetApp by 0.9% during the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock worth $1,345,000 after buying an additional 108 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 0.7%

NetApp stock opened at $173.23 on Thursday. The company has a 50 day moving average of $161.10 and a 200-day moving average of $124.08. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The stock has a market capitalization of $33.99 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 3.19 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous 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. On average, equities research analysts anticipate that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, July 10th. NetApp’s payout ratio is 32.70%.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. UBS Group reiterated a “neutral” rating and issued a $160.00 target price on shares of NetApp in a report on Friday, May 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Susquehanna upped their price objective on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Morgan Stanley raised their price objective on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $169.33.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the completion of the transaction, the executive vice president directly owned 31,297 shares in the company, valued at approximately $5,349,283.24. This trade represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 52,964 shares of company stock valued at $8,181,642 over the last three months. Company insiders own 0.28% of the company’s stock.

NetApp 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.