Allworth Financial LP Has $1.15 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Allworth Financial LP increased its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 611.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,105 shares of the data storage provider's stock after purchasing an additional 7,825 shares during the quarter. Allworth Financial LP's holdings in NetApp were worth $1,148,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in NetApp during the third quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp during the fourth quarter worth $26,000. Golden State Wealth Management LLC bought a new position in NetApp during the fourth quarter worth $35,000. True Wealth Design LLC lifted its stake in NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider's stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in NetApp in the third quarter valued at $44,000. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent research reports. Northland Securities raised their target price on NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a research note on Friday, November 22nd. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and raised their target price for the company from $121.00 to $128.00 in a research note on Wednesday. Wedbush reiterated a "neutral" rating and issued a $120.00 target price on shares of NetApp 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 note on Friday, November 22nd. Finally, Citigroup raised their target price on NetApp from $130.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $137.33.

NetApp Stock Performance

Shares of NASDAQ NTAP traded down $0.56 during trading hours on Friday, reaching $123.99. The stock had a trading volume of 1,272,900 shares, compared to its average volume of 1,375,671. The business's fifty day moving average is $120.07 and its two-hundred day moving average is $121.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market cap of $25.21 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.96 and a beta of 1.23. NetApp, Inc. has a twelve month low of $85.28 and a twelve month high of $135.45.

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

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now owns 279,782 shares in the company, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,903 shares of company stock worth $7,260,341. Insiders own 0.47% of the company's stock.

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.