OMERS ADMINISTRATION Corp Has $3.30 Million Stock Position in NetApp, Inc. $NTAP

Key Points

• OMERS Administration Corp increased its NetApp stake by 25.6% in the first quarter, bringing its holdings to 32,197 shares valued at approximately $3.30 million. Institutional investors and hedge funds own 92.17% of NetApp’s outstanding stock.
• 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 the $2.27 consensus. The company also issued fiscal 2027 EPS guidance of $8.70 to $9.00.
• NetApp declared a quarterly dividend of $0.52 per share, representing an annualized payout of $2.08 and a 1.2% yield. Analysts’ average rating remains “Hold,” with a consensus price target of $169.33.

OMERS ADMINISTRATION Corp grew its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,197 shares of the data storage provider's stock after purchasing an additional 6,554 shares during the period. OMERS ADMINISTRATION Corp's holdings in NetApp were worth $3,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Park Square Financial Group LLC boosted its stake in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc bought a new stake in NetApp in the fourth quarter valued at $30,000. DV Equities LLC acquired a new position in NetApp during the fourth quarter worth $30,000. Roble Belko & Company Inc acquired a new position in NetApp during the first quarter worth $31,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider's stock valued at $34,000 after acquiring an additional 201 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Up 1.2%

Shares of NTAP opened at $169.80 on Tuesday. 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 $33.32 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.06 and a beta of 1.46. The stock has a fifty day moving average price of $158.93 and a two-hundred day moving average price of $123.11. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $192.83.

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

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.2%. NetApp's dividend payout ratio is 32.70%.

Analysts Set New Price Targets

Several brokerages have recently commented on NTAP. Wells Fargo & Company boosted their target price on shares of NetApp from $115.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 29th. Weiss Ratings upgraded shares of NetApp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. The Goldman Sachs Group reissued a "buy" rating and set a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Northland Securities boosted their price target on shares of NetApp from $137.00 to $171.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Finally, Bank of America upped their price objective on shares of NetApp from $125.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $169.33.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the transaction, the executive vice president owned 31,297 shares in the company, valued at $5,349,283.24. The trade was a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,964 shares of company stock valued at $8,181,642 in the last 90 days. 0.28% of the stock is currently owned by insiders.

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.

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