42,000 Shares in NetApp, Inc. (NASDAQ:NTAP) Purchased by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 42,000 shares of the data storage provider's stock, valued at approximately $5,187,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in shares of NetApp by 48.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider's stock valued at $249,307,000 after acquiring an additional 773,773 shares during the last quarter. AQR Capital Management LLC increased its position in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider's stock worth $211,637,000 after purchasing an additional 613,583 shares in the last quarter. TD Asset Management Inc increased its position in NetApp by 26.5% during the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider's stock worth $225,532,000 after purchasing an additional 450,263 shares in the last quarter. TCW Group Inc. acquired a new stake in NetApp during the 2nd quarter worth approximately $56,313,000. Finally, APG Asset Management US Inc. acquired a new stake in NetApp during the 2nd quarter worth approximately $48,074,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NTAP. Loop Capital raised shares of NetApp from a "hold" rating to a "buy" rating and increased their target price for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Bank of America upped their price target on NetApp from $105.00 to $110.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. Stifel Nicolaus upped their price target on NetApp from $138.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Evercore ISI upped their price target on NetApp from $120.00 to $130.00 and gave the stock an "in-line" rating in a report on Monday, August 12th. Finally, Citigroup upped their price target on NetApp from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, NetApp currently has an average rating of "Hold" and an average price target of $129.06.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Lorenzo Daniel De sold 1,685 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the transaction, the chief executive officer now directly owns 292,778 shares in the company, valued at $36,922,233.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,890 shares of company stock valued at $1,369,172. Company insiders own 0.47% of the company's stock.

NetApp Stock Performance

NTAP traded up $1.51 during trading hours on Friday, hitting $124.34. 312,262 shares of the stock were exchanged, compared to its average volume of 1,810,502. NetApp, Inc. has a 12 month low of $75.32 and a 12 month high of $135.01. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a 50-day simple moving average of $120.87 and a 200-day simple moving average of $120.98. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 4.33 and a beta of 1.24.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share 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 for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.84 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, October 4th. NetApp's dividend payout ratio is presently 40.63%.

About NetApp

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.