Diversified Trust Co Has $4.85 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Diversified Trust Co decreased its position in NetApp, Inc. (NASDAQ:NTAP) by 17.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,224 shares of the data storage provider’s stock after selling 9,545 shares during the quarter. Diversified Trust Co’s holdings in NetApp were worth $4,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of NetApp in the first quarter valued at approximately $27,000. ORG Partners LLC grew its position in shares of NetApp by 14,650.0% in the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 293 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of NetApp by 58.7% in the fourth quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. grew its position in shares of NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of NetApp in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTAP. Bank of America upped their target price on NetApp from $85.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, May 29th. Wells Fargo & Company boosted their price target on NetApp from $120.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 12th. StockNews.com cut NetApp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their price target on NetApp from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, Citigroup boosted their price target on NetApp from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $117.81.

NetApp Price Performance

Shares of NTAP traded up $1.53 during trading hours on Monday, reaching $130.33. The stock had a trading volume of 462,243 shares, compared to its average volume of 1,995,868. NetApp, Inc. has a 12 month low of $70.82 and a 12 month high of $130.87. The stock has a market capitalization of $26.82 billion, a PE ratio of 28.02, a PEG ratio of 5.21 and a beta of 1.27. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.15 and a current ratio of 1.19. The company’s 50-day moving average is $115.36 and its two-hundred day moving average is $101.46.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 30th. The data storage provider reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.32. NetApp had a return on equity of 114.54% and a net margin of 15.73%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company earned $1.20 EPS. NetApp’s revenue was up 5.5% compared to the same quarter last year. Research analysts expect that NetApp, Inc. will post 5.47 EPS for the current year.

NetApp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.60%. This is an increase from NetApp’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. NetApp’s dividend payout ratio is presently 43.10%.

NetApp announced that its Board of Directors has authorized a share buyback program on Thursday, May 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at $26,068,738.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $103.16, for a total transaction of $876,860.00. Following the completion of the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the sale, the executive vice president now owns 9,601 shares of the company’s stock, valued at $989,095.02. The disclosure for this sale can be found here. Insiders sold 20,205 shares of company stock worth $2,345,409 over the last three months. Company insiders own 0.37% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.