Thurston Springer Miller Herd & Titak Inc. Takes $75,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Thurston Springer Miller Herd & Titak Inc. purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, HoldingsChannel reports. The fund purchased 610 shares of the data storage provider’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of NetApp by 204.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 36,744 shares of the data storage provider’s stock valued at $4,538,000 after purchasing an additional 24,675 shares during the period. Exchange Traded Concepts LLC raised its position in shares of NetApp by 4,225.0% in the third quarter. Exchange Traded Concepts LLC now owns 2,249 shares of the data storage provider’s stock valued at $278,000 after purchasing an additional 2,197 shares during the period. Inspire Investing LLC raised its position in shares of NetApp by 78.2% in the third quarter. Inspire Investing LLC now owns 36,439 shares of the data storage provider’s stock valued at $4,501,000 after purchasing an additional 15,995 shares during the period. Ritholtz Wealth Management raised its position in shares of NetApp by 30.4% in the third quarter. Ritholtz Wealth Management now owns 6,200 shares of the data storage provider’s stock valued at $766,000 after purchasing an additional 1,444 shares during the period. Finally, Peak Financial Advisors LLC purchased a new position in NetApp during the third quarter valued at approximately $2,935,000. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 1.2 %

Shares of NTAP opened at $125.38 on Wednesday. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 4.77 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. NetApp, Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $135.01. The firm has a 50 day moving average price of $123.42 and a 200-day moving average price of $119.17.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. As a group, equities research analysts forecast that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.66%. NetApp’s dividend payout ratio is currently 44.83%.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the company’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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Lorenzo Daniel De sold 1,685 shares of the company’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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America boosted their price objective on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and set a $155.00 price objective on shares of NetApp in a research note on Monday, August 26th. UBS Group boosted their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Finally, Citigroup boosted their price objective on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $129.06.

NetApp 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.