OmniStar Financial Group Inc. Sells 10,151 Shares of NetApp, Inc. (NASDAQ:NTAP)

OmniStar Financial Group Inc. reduced its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 63.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,753 shares of the data storage provider's stock after selling 10,151 shares during the quarter. OmniStar Financial Group Inc.'s holdings in NetApp were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NTAP. Aaron Wealth Advisors LLC bought a new position in NetApp during the 3rd quarter valued at approximately $230,000. V Square Quantitative Management LLC raised its holdings in shares of NetApp by 2.4% during the third quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider's stock valued at $631,000 after acquiring an additional 120 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of NetApp by 2.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,478 shares of the data storage provider's stock valued at $4,752,000 after acquiring an additional 1,100 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in NetApp in the third quarter worth $718,000. Finally, Kapitalo Investimentos Ltda bought a new stake in NetApp in the third quarter valued at $602,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Down 0.1 %

Shares of NASDAQ NTAP traded down $0.16 during midday trading on Friday, hitting $126.53. The stock had a trading volume of 1,022,416 shares, compared to its average volume of 1,837,985. The business's 50 day moving average is $123.84 and its 200-day moving average is $119.41. NetApp, Inc. has a 52 week low of $70.82 and a 52 week high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The company has a market cap of $26.04 billion, a P/E ratio of 27.27, a PEG ratio of 4.77 and a beta of 1.23.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The business 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%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, analysts predict that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.64%. NetApp's payout ratio is 44.83%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTAP. Barclays upped their price objective on shares of NetApp from $116.00 to $119.00 and gave the stock an "equal weight" rating in a report on Thursday, August 29th. Citigroup raised their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on NetApp from $146.00 to $147.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Susquehanna restated a "positive" rating and issued a $155.00 target price on shares of NetApp in a research note on Monday, August 26th. Finally, Evercore ISI upped their price target on NetApp from $120.00 to $130.00 and gave the stock an "in-line" rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.06.

Insiders Place Their Bets

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Elizabeth M. O'callahan sold 705 shares of the company's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares of the company's stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction that occurred on 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. 0.37% of the stock is owned by insiders.

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.