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

Key Points

• Oddo BHF Asset Management increased its NetApp stake by 34.6%, purchasing 18,755 shares to bring its holdings to 73,038 shares valued at approximately $7.48 million. 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 its $2.03 adjusted EPS fell short of the $2.27 consensus forecast. The company issued FY 2027 EPS guidance of $8.70–$9.00.
• NetApp shares opened at $173.23, while analysts have an average rating of “Hold” and an average price target of $169.33. The company also maintains a quarterly dividend of $0.52 per share, equal to a 1.2% annualized yield.

Oddo BHF Asset Management Sas increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 34.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 73,038 shares of the data storage provider's stock after acquiring an additional 18,755 shares during the period. Oddo BHF Asset Management Sas' holdings in NetApp were worth $7,478,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp grew its holdings in NetApp by 1.1% during the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider's stock valued at $1,091,499,000 after purchasing an additional 115,451 shares during the last quarter. Wellington Management Group LLP raised its holdings in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider's stock worth $582,296,000 after acquiring an additional 718,409 shares during the period. Norges Bank bought a new position in NetApp in the 4th quarter worth $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NetApp by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider's stock worth $442,018,000 after acquiring an additional 611,003 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in NetApp by 127.0% during the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider's stock valued at $374,549,000 after acquiring an additional 2,046,912 shares during the period. 92.17% of the stock is owned by institutional investors.

NetApp Price Performance

Shares of NTAP stock opened at $173.23 on Thursday. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $192.83. The stock has a market capitalization of $33.99 billion, a PE ratio of 27.24, a PEG ratio of 3.19 and a beta of 1.46. 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 stock's fifty day moving average is $161.10 and its 200-day moving average is $124.08.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm 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 expect that NetApp, Inc. will post 7.16 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp's payout ratio is currently 32.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Susquehanna raised their price objective on shares of NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. The Goldman Sachs Group restated a "buy" rating and set a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd. Morgan Stanley raised their target price on NetApp from $88.00 to $137.00 and gave the stock an "underweight" rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of NetApp from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, Bank of America boosted their price target on shares of NetApp from $125.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Five investment 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $169.33.

Insider Transactions at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction 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. This represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were 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. The trade was a 51.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 52,964 shares of company stock worth $8,181,642. Corporate insiders own 0.28% of the company's stock.

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.

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