Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in NetApp, Inc. $NTAP

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 2,410.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,891 shares of the data storage provider’s stock after purchasing an additional 190,970 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in NetApp were worth $21,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of NetApp by 2.1% in the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after purchasing an additional 101 shares in the last quarter. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares in the last quarter. Transcend Capital Advisors LLC lifted its holdings in shares of NetApp by 5.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after purchasing an additional 107 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of NetApp by 0.9% in the fourth quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after purchasing an additional 108 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of NetApp by 0.7% in the third quarter. US Bancorp DE now owns 15,398 shares of the data storage provider’s stock valued at $1,824,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.1%

NTAP stock opened at $161.82 on Tuesday. The stock has a market capitalization of $31.70 billion, a P/E ratio of 25.44, a PEG ratio of 2.95 and a beta of 1.44. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. NetApp, Inc. has a one year low of $93.69 and a one year high of $192.83. The company has a 50 day moving average price of $127.09 and a two-hundred day moving average price of $112.64.

NetApp (NASDAQ:NTAP) last released 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). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, sell-side analysts expect that NetApp, Inc. will post 7.16 EPS for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. NetApp’s dividend payout ratio (DPR) is currently 32.70%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several recent research reports. Wall Street Zen raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Saturday. Citigroup upped their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Northland Securities lifted their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of NetApp in a research note on Tuesday, June 2nd. Five 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.33.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $130,800. This represents a 20.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,500 shares of company stock worth $448,955. 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.