Benjamin Edwards Inc. increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 27.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,534 shares of the data storage provider's stock after purchasing an additional 4,634 shares during the quarter. Benjamin Edwards Inc.'s holdings in NetApp were worth $2,664,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in shares of NetApp by 11.8% in the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider's stock valued at $101,000 after buying an additional 83 shares in the last quarter. Aviso Wealth Management increased its holdings in NetApp by 1.4% during the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider's stock worth $792,000 after purchasing an additional 83 shares in the last quarter. Waldron Private Wealth LLC lifted its holdings in NetApp by 4.3% during the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider's stock worth $290,000 after acquiring an additional 92 shares during the period. Quarry LP lifted its position in shares of NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider's stock worth $113,000 after acquiring an additional 92 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in NetApp by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider's stock valued at $2,437,000 after buying an additional 95 shares during the period. 92.17% of the stock is owned by institutional investors.
Insider Transactions at NetApp
In other news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 292,778 shares of the company's stock, valued at approximately $36,922,233.58. This represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Michael Nevens sold 3,333 shares of NetApp stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $119.23, for a total transaction of $397,393.59. Following the transaction, the director now owns 9,277 shares of the company's stock, valued at approximately $1,106,096.71. The trade was a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,049 shares of company stock valued at $2,807,851 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have weighed in on NTAP shares. Evercore ISI lifted their price objective on NetApp from $120.00 to $130.00 and gave the company an "in-line" rating in a research report on Monday, August 12th. Northland Securities lifted their target price on NetApp from $108.00 to $120.00 and gave the company a "market perform" rating in a research report on Friday, November 22nd. Stifel Nicolaus raised their price objective on NetApp from $140.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Morgan Stanley raised their price target on shares of NetApp from $127.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of NetApp from $146.00 to $147.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, NetApp currently has an average rating of "Hold" and a consensus price target of $137.40.
Check Out Our Latest Stock Report on NTAP
NetApp Stock Down 0.2 %
Shares of NASDAQ:NTAP traded down $0.26 during trading on Thursday, reaching $128.79. 1,864,254 shares of the stock were exchanged, compared to its average volume of 1,855,070. 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 firm has a market cap of $26.18 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.99 and a beta of 1.23. NetApp, Inc. has a 1-year low of $83.62 and a 1-year high of $135.45. The stock has a fifty day moving average of $122.55 and a two-hundred day moving average of $123.48.
NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $1.23 EPS. NetApp's quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts anticipate that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.52 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.62%. NetApp's payout ratio is 38.24%.
About NetApp
(
Free Report)
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.
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