Lombard Odier Asset Management Switzerland SA Makes New Investment in NetApp, Inc. $NTAP

Lombard Odier Asset Management Switzerland SA bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,816 shares of the data storage provider’s stock, valued at approximately $1,107,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Park Square Financial Group LLC raised its holdings in NetApp by 68.7% during the fourth 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 last quarter. Gen Wealth Partners Inc acquired a new position in shares of NetApp during the 4th quarter worth $30,000. DV Equities LLC purchased a new stake in shares of NetApp in the 4th quarter worth about $30,000. Roble Belko & Company Inc purchased a new stake in shares of NetApp in the 1st quarter worth about $31,000. Finally, JFS Wealth Advisors LLC grew its stake in NetApp by 176.3% in the 4th 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 last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 225 shares of the 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 owned 1,090 shares in the company, valued at $186,488.10. This represents a 17.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 completion of the sale, the executive vice president directly owned 31,297 shares of the company’s stock, valued at approximately $5,349,283.24. This represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,964 shares of company stock valued at $8,181,642 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTAP. Barclays upped their price target on shares of NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Wedbush boosted their price objective on NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. UBS Group reiterated a “neutral” rating and set a $160.00 target price on shares of NetApp in a report on Friday, May 29th. Finally, Northland Securities increased their price objective 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. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $169.33.

NetApp Stock Performance

Shares of NTAP stock 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 company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.06 and a beta of 1.46. The business has a 50 day simple moving average of $158.93 and a 200 day simple moving average of $123.11.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm earned $1.93 EPS. 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. On average, equities research analysts anticipate that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Dividend Announcement

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

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.