28,683 Shares in NetApp, Inc. $NTAP Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new position in NetApp, Inc. (NASDAQ:NTAP) during the second quarter, HoldingsChannel reports. The firm purchased 28,683 shares of the data storage provider’s stock, valued at approximately $4,439,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC raised its holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $30,000. DV Equities LLC purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $30,000. Roble Belko & Company Inc bought a new stake in shares of NetApp during the first quarter valued at approximately $31,000. Finally, Torren Management LLC purchased a new position in NetApp in the 4th quarter worth approximately $34,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Stock Up 0.3%

Shares of NetApp stock opened at $187.43 on Wednesday. The company has a market cap of $36.78 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 3.34 and a beta of 1.45. The company’s 50 day moving average is $173.96 and its 200 day moving average is $136.41. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The company has a quick ratio of 1.39, a current ratio of 1.44 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 (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 company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $1.93 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. 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 anticipate that NetApp, Inc. will post 7.32 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Friday, July 10th were issued a $0.52 dividend. 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 payout ratio is presently 32.70%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NTAP. JPMorgan Chase & Co. upped their price objective on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Evercore set a $210.00 target price on NetApp in a report on Monday. Bank of America boosted their price target on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Argus upped their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Wedbush increased their price objective on NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $179.77.

Insider Buying and Selling

In other NetApp news, President Cesar Cernuda sold 2,608 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $204.48, for a total value of $533,283.84. Following the transaction, the president directly owned 46,530 shares of the company’s stock, valued at approximately $9,514,454.40. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,297 shares of company stock valued at $8,758,016 over the last 90 days. Company insiders own 0.36% of the company’s stock.

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.