Oddo BHF Asset Management Sas Has $5.81 Million Holdings in NetApp, Inc. $NTAP

Key Points

• Oddo BHF Asset Management increased its NetApp stake by 28.8% in the fourth quarter, ending with 54,283 shares worth about $5.81 million.
• NetApp reported mixed quarterly results, missing EPS estimates at $2.03 versus $2.27 expected, but topping revenue forecasts with $1.95 billion in sales, up 12.5% year over year.
• Analyst sentiment is mixed but improving: several firms raised price targets or upgraded the stock, and NetApp now has a consensus Hold rating with a $169.33 average price target.

Oddo BHF Asset Management Sas boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 28.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,283 shares of the data storage provider's stock after acquiring an additional 12,147 shares during the quarter. Oddo BHF Asset Management Sas' holdings in NetApp were worth $5,813,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NTAP. Abich Financial Wealth Management LLC acquired a new stake in NetApp during the 3rd quarter worth about $27,000. Rossby Financial LCC boosted its position in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after acquiring an additional 115 shares during the period. Park Square Financial Group LLC boosted its position in NetApp by 68.7% during 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 during the period. Gen Wealth Partners Inc acquired a new stake in NetApp during the 4th quarter worth about $30,000. Finally, JFS Wealth Advisors LLC boosted its position in NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock worth $34,000 after acquiring an additional 201 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president directly owned 18,382 shares of the company's stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,500 shares of company stock worth $448,955. Company insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup raised their price objective on NetApp from $114.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Wall Street Zen upgraded NetApp from a "hold" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings upgraded NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. lifted their price target on NetApp from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NetApp presently has a consensus rating of "Hold" and a consensus price target of $169.33.

NetApp Stock Up 0.1%

Shares of NTAP stock opened at $161.82 on Tuesday. The stock's 50 day simple moving average is $127.09 and its 200 day simple moving average is $112.64. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $192.83. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 2.95 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business posted $1.93 earnings per share. The firm'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. As a group, research analysts predict that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 10th. NetApp's payout ratio is currently 32.70%.

About NetApp

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.

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP - Free Report).

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.