Lombard Odier Asset Management Switzerland SA Purchases New Holdings in NetApp, Inc. $NTAP

Lombard Odier Asset Management Switzerland SA acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 10,816 shares of the data storage provider’s stock, valued at approximately $1,107,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC raised its holdings in NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after buying an additional 101 shares in the last quarter. Park Square Financial Group LLC increased its holdings in shares of 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 purchasing an additional 103 shares during the period. Assetmark Inc. raised its holdings in NetApp by 3.0% in the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after acquiring an additional 104 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in NetApp by 5.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock worth $209,000 after purchasing an additional 107 shares during the period. Finally, Fifth Third Bancorp lifted its holdings 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 acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NTAP shares. Susquehanna raised their price target on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. UBS Group reissued a “neutral” rating and issued a $160.00 price target on shares of NetApp in a research note on Friday, May 29th. 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 report on Friday, May 29th. Wedbush increased their target price on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Bank of America lifted their price target on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $169.33.

NetApp Stock Performance

Shares of NTAP opened at $169.80 on Tuesday. NetApp, Inc. has a 12 month low of $93.69 and a 12 month high of $192.83. The firm has a fifty day simple moving average of $158.93 and a 200 day simple moving average of $123.11. The stock has a market capitalization 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 company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last issued its earnings results 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 return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. NetApp’s quarterly 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. Research analysts forecast 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 will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. NetApp’s payout ratio is presently 32.70%.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. 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 NetApp stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $170.92, for a total value of $170,920.00. Following the completion of the transaction, the executive vice president owned 31,297 shares in the company, valued at approximately $5,349,283.24. This represents a 3.10% decrease in their position. 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 three months. 0.28% of the stock is currently owned by company insiders.

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.