NetApp, Inc. (NASDAQ:NTAP) Stake Lifted by Aviso Wealth Management

Aviso Wealth Management increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,149 shares of the data storage provider’s stock after acquiring an additional 83 shares during the period. Aviso Wealth Management’s holdings in NetApp were worth $792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in shares of NetApp by 57.5% in the fourth quarter. First Trust Advisors LP now owns 5,643,780 shares of the data storage provider’s stock valued at $497,556,000 after acquiring an additional 2,059,574 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in NetApp by 17.5% during the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after buying an additional 416,233 shares in the last quarter. Legal & General Group Plc boosted its holdings in NetApp by 3.5% during the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after buying an additional 82,378 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in NetApp by 254.8% during the first quarter. Los Angeles Capital Management LLC now owns 2,304,512 shares of the data storage provider’s stock worth $241,905,000 after buying an additional 1,654,942 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in NetApp by 26.5% during the first quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after buying an additional 450,263 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $130.36, for a total transaction of $1,108,060.00. Following the transaction, the chief executive officer now owns 314,274 shares in the company, valued at approximately $40,968,758.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Insiders sold a total of 10,637 shares of company stock worth $1,376,474 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

NetApp Stock Down 2.6 %

NTAP stock opened at $121.24 on Friday. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 4.61 and a beta of 1.23. The company has a 50 day moving average of $123.18 and a two-hundred day moving average of $117.33.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be given a $0.52 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.72%. NetApp’s payout ratio is 44.83%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NTAP. Argus raised their target price on shares of NetApp from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Bank of America raised their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wedbush restated a “neutral” rating and set a $120.00 target price on shares of NetApp in a report on Monday, August 26th. Evercore ISI raised their target price on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. Finally, Morgan Stanley upped their price target on shares of NetApp from $106.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $129.06.

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.