Quantinno Capital Management LP Has $5.80 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Quantinno Capital Management LP increased its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 35.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,958 shares of the data storage provider's stock after acquiring an additional 12,241 shares during the period. Quantinno Capital Management LP's holdings in NetApp were worth $5,800,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NTAP. Hollencrest Capital Management acquired a new stake in NetApp during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of NetApp in the third quarter valued at $27,000. Redwood Wealth Management Group LLC purchased a new stake in shares of NetApp in the second quarter valued at $32,000. True Wealth Design LLC grew its position in shares of NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider's stock valued at $43,000 after purchasing an additional 340 shares during the period. Finally, Robbins Farley acquired a new position in NetApp in the second quarter valued at $44,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $36,922,233.58. This trade represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O'callahan sold 705 shares of NetApp stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,049 shares of company stock valued at $2,807,851 over the last quarter. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Up 1.8 %

NASDAQ:NTAP traded up $2.32 during trading hours on Friday, hitting $131.11. 2,100,197 shares of the stock traded hands, compared to its average volume of 2,156,544. NetApp, Inc. has a fifty-two week low of $83.62 and a fifty-two week high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $26.66 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 3.09 and a beta of 1.23. The firm has a 50 day moving average price of $122.84 and a 200 day moving average price of $123.72.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. Equities research analysts anticipate that NetApp, Inc. will post 5.83 earnings per share for the current year.

NetApp Dividend Announcement

The business 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, January 3rd. NetApp's dividend payout ratio is currently 38.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTAP. Loop Capital raised NetApp from a "hold" rating to a "buy" rating and lifted their target price for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on NetApp from $146.00 to $147.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Bank of America boosted their price objective on NetApp from $115.00 to $121.00 and gave the company an "underperform" rating in a report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on NetApp from $135.00 to $140.00 and gave the company an "equal weight" rating in a report on Friday, November 22nd. Finally, Susquehanna reissued a "positive" rating and issued a $155.00 price objective on shares of NetApp in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $137.40.

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.