Quarry LP Has $113,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Quarry LP raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 876 shares of the data storage provider’s stock after acquiring an additional 92 shares during the quarter. Quarry LP’s holdings in NetApp were worth $113,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NTAP. Hollencrest Capital Management acquired a new stake in NetApp in the second quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of NetApp in the 1st quarter valued at about $27,000. J.Safra Asset Management Corp increased its stake in shares of NetApp by 706.3% in the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock valued at $27,000 after buying an additional 226 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of NetApp during the first quarter worth about $28,000. Finally, Redwood Wealth Management Group LLC bought a new position in shares of NetApp during the second quarter worth about $32,000. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction dated Tuesday, September 24th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total value of $60,147.64. Following the completion of the sale, the executive vice president now owns 11,886 shares in the company, valued at $1,581,670.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was 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 valued at $1,376,474 over the last three months. Corporate insiders own 0.37% of the company’s stock.

NetApp Stock Down 1.8 %

Shares of NASDAQ:NTAP opened at $121.31 on Wednesday. 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 52-week low of $70.82 and a 52-week high of $135.01. The business’s 50 day simple moving average is $122.92 and its two-hundred day simple moving average is $117.71. The firm has a market cap of $24.97 billion, a P/E ratio of 26.14, a PEG ratio of 4.61 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last issued 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. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. NetApp’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. As a group, research analysts forecast that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, October 4th. NetApp’s dividend payout ratio is currently 44.83%.

Analyst Ratings Changes

NTAP has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Bank of America increased their price objective on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the company from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley lifted their price objective on NetApp from $106.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.