OMERS ADMINISTRATION Corp Purchases 6,554 Shares of NetApp, Inc. $NTAP

OMERS ADMINISTRATION Corp grew its position in NetApp, Inc. (NASDAQ:NTAP) by 25.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,197 shares of the data storage provider’s stock after buying an additional 6,554 shares during the period. OMERS ADMINISTRATION Corp’s holdings in NetApp were worth $3,297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of 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 acquiring an additional 115,451 shares during the period. Wellington Management Group LLP increased its position in NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares during the period. Norges Bank acquired a new stake in NetApp in the fourth quarter worth about $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 purchasing an additional 611,003 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in NetApp by 127.0% during the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after purchasing an additional 2,046,912 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $130,800. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s 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 directly owned 31,297 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 52,964 shares of company stock worth $8,181,642. Corporate insiders own 0.28% of the company’s stock.

NetApp Trading Up 1.2%

NASDAQ:NTAP opened at $169.80 on Tuesday. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $192.83. The business’s 50-day moving average price is $158.93 and its two-hundred day moving average price is $123.11. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The firm 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.

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 analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, equities analysts expect that NetApp, Inc. will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp’s dividend payout ratio is currently 32.70%.

Analysts Set New Price Targets

NTAP has been the topic of a number of research reports. Bank of America upped their target price on shares of NetApp from $125.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Citigroup boosted their price target on shares of NetApp from $114.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Wall Street Zen upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Barclays raised their price objective on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $169.33.

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.