Edmond DE Rothschild Holding S.A. Purchases New Shares in NetApp, Inc. $NTAP

Key Points

• Edmond DE Rothschild Holding S.A. acquired 828,205 NetApp shares worth approximately $128.2 million, representing about 0.42% of the company and 1.7% of the investor’s portfolio. Institutional investors collectively own 92.17% of NetApp.
• NetApp reported quarterly revenue of $1.95 billion, up 12.5% year over year and above estimates, but earnings of $2.03 per share missed consensus by $0.24. The company also maintains a quarterly dividend of $0.52 per share, yielding about 1.1% annually.
• Analysts maintain a generally cautious outlook, with five Buy ratings and ten Holds, producing a consensus rating of Hold and an average price target of $177.25. NetApp shares opened at $194.48 after recently trading near their 52-week high.

Edmond DE Rothschild Holding S.A. acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 828,205 shares of the data storage provider's stock, valued at approximately $128,173,000. NetApp makes up approximately 1.7% of Edmond DE Rothschild Holding S.A.'s investment portfolio, making the stock its 13th biggest holding. Edmond DE Rothschild Holding S.A. owned approximately 0.42% of NetApp at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC increased its stake in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after acquiring an additional 103 shares in the last quarter. Gen Wealth Partners Inc bought a new stake in NetApp during the fourth quarter worth about $30,000. DV Equities LLC bought a new stake in NetApp during the fourth quarter worth about $30,000. Roble Belko & Company Inc purchased a new stake in NetApp in the first quarter worth about $31,000. Finally, Torren Management LLC bought a new position in shares of NetApp during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 225 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the sale, the chief accounting officer owned 1,090 shares of the company's stock, valued at $186,488.10. This trade represents a 17.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Cesar Cernuda sold 2,608 shares of NetApp stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the sale, the president owned 46,530 shares of the company's stock, valued at $9,514,454.40. This represents a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,297 shares of company stock worth $8,758,016. 0.36% of the stock is owned by corporate insiders.

NetApp Trading Down 5.0%

Shares of NASDAQ NTAP opened at $194.48 on Thursday. The firm's 50 day moving average price is $171.67 and its 200-day moving average price is $133.81. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The company has a market cap of $38.16 billion, a PE ratio of 30.58, a P/E/G ratio of 3.67 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business earned $1.93 EPS. NetApp's revenue was up 12.5% on a year-over-year basis. 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 expect that NetApp, Inc. will post 7.3 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Analyst Ratings Changes

NTAP has been the subject of several recent research reports. Wall Street Zen lowered shares of NetApp from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 29th. Bank of America raised their price objective on NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Citigroup lifted their price objective on NetApp from $150.00 to $209.00 and gave the company a "neutral" rating in a research note on Tuesday. Weiss Ratings raised NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $177.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source