Edmond DE Rothschild Holding S.A. Invests $128.17 Million in NetApp, Inc. $NTAP

Edmond DE Rothschild Holding S.A. acquired a new position in NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 828,205 shares of the data storage provider’s stock, valued at approximately $128,173,000. NetApp comprises 1.7% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 13th biggest holding.

A number of other hedge funds also recently bought and sold shares of NTAP. Abacus FCF Advisors LLC purchased a new stake in NetApp during the second quarter valued at $7,613,000. Csenge Advisory Group purchased a new position in NetApp in the second quarter worth about $368,000. Johnson Financial Group Inc. bought a new stake in shares of NetApp during the 2nd quarter valued at about $498,000. Tocqueville Asset Management L.P. bought a new stake in shares of NetApp during the 2nd quarter valued at about $1,668,000. Finally, Monetta Financial Services Inc. purchased a new stake in shares of NetApp during the 2nd quarter valued at about $1,393,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTAP. Wedbush increased their price objective on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Northland Securities boosted their target price 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. Susquehanna upped their target price on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, May 29th. JPMorgan Chase & Co. increased their price target 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. Finally, Barclays lifted their price target on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $177.25.

NetApp Stock Performance

Shares of NTAP opened at $194.48 on Thursday. The business has a 50-day simple moving average of $171.67 and a two-hundred day simple moving average of $133.81. 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, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. The stock has a market cap of $38.16 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.67 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data 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). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $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. On average, analysts expect that NetApp, Inc. will post 7.3 EPS for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.08 annualized dividend and a yield of 1.1%. NetApp’s payout ratio is currently 32.70%.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This trade represents a 17.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,297 shares of company stock worth $8,758,016 over the last three months. 0.36% of the stock is currently owned by company insiders.

NetApp Company 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.