NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 22.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 549 shares of the data storage provider’s stock after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc.’s holdings in NetApp were worth $64,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Intech Investment Management LLC grew its holdings in NetApp by 8.9% in the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after purchasing an additional 24,651 shares during the period. Daiwa Securities Group Inc. grew its stake in NetApp by 20.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after acquiring an additional 7,318 shares during the period. Hilton Capital Management LLC purchased a new stake in NetApp in the 3rd quarter worth $4,059,000. Orion Portfolio Solutions LLC raised its position in NetApp by 232.2% during the third quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock worth $831,000 after acquiring an additional 4,705 shares during the period. Finally, National Bank of Canada FI lifted its holdings in NetApp by 202.1% during the third quarter. National Bank of Canada FI now owns 266,262 shares of the data storage provider’s stock valued at $32,886,000 after purchasing an additional 178,135 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 0.3 %

NTAP opened at $122.10 on Friday. The stock has a market capitalization of $24.82 billion, a PE ratio of 22.44, a P/E/G ratio of 2.85 and a beta of 1.23. NetApp, Inc. has a one year low of $83.80 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The business’s 50 day moving average price is $121.22 and its 200 day moving average price is $122.37.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. As a group, equities research analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio is presently 38.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a research note on Monday, December 16th. Barclays boosted their price objective on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. TD Cowen raised their target price on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Bank of America boosted their price target on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.20.

Insider Activity

In other NetApp news, Director Thomas Michael Nevens sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the sale, the director now owns 9,277 shares of the company’s stock, valued at $1,106,096.71. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,610 shares of company stock valued at $6,123,351. Company 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.