NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,166 shares of the data storage provider’s stock after acquiring an additional 642 shares during the period. Private Advisor Group LLC’s holdings in NetApp were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of NetApp during the second quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in shares of NetApp during the third quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new position in shares of NetApp during the second quarter worth about $32,000. J.Safra Asset Management Corp grew its holdings in shares of NetApp by 706.3% during the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock worth $27,000 after buying an additional 226 shares during the last quarter. Finally, New Covenant Trust Company N.A. purchased a new stake in NetApp in the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Up 0.8 %

Shares of NetApp stock opened at $116.40 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. NetApp, Inc. has a 1 year low of $74.82 and a 1 year high of $135.01. The company has a market capitalization of $23.84 billion, a P/E ratio of 22.73, a P/E/G ratio of 4.35 and a beta of 1.24. The business has a 50 day moving average price of $121.09 and a 200 day moving average price of $120.98.

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

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. NetApp’s dividend payout ratio is currently 40.62%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NTAP. JPMorgan Chase & Co. lifted their price objective on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Citigroup lifted their price objective on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. UBS Group lifted their price objective on NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price objective on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Barclays lifted their price objective on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $129.06.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock worth $1,369,172 in the last ninety days. Insiders own 0.47% 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.