Orion Portfolio Solutions LLC Has $831,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Orion Portfolio Solutions LLC raised its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 232.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,731 shares of the data storage provider's stock after buying an additional 4,705 shares during the quarter. Orion Portfolio Solutions LLC's holdings in NetApp were worth $831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of NetApp during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in NetApp in the 3rd quarter worth approximately $27,000. Redwood Wealth Management Group LLC bought a new position in NetApp in the 2nd quarter worth approximately $32,000. Hershey Financial Advisers LLC bought a new position in NetApp in the 2nd quarter worth approximately $45,000. Finally, True Wealth Design LLC grew its holdings in NetApp by 2,833.3% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider's stock worth $43,000 after buying an additional 340 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Down 2.9 %

Shares of NASDAQ NTAP traded down $3.61 during mid-day trading on Tuesday, reaching $122.49. The company had a trading volume of 1,608,833 shares, compared to its average volume of 1,851,723. NetApp, Inc. has a twelve month low of $83.62 and a twelve month high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock has a market capitalization of $24.90 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23. The stock's 50 day moving average is $122.86 and its 200-day moving average is $124.12.

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

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, January 3rd. NetApp's payout ratio is presently 38.24%.

Insider Activity at NetApp

In other news, Director Thomas Michael Nevens sold 3,333 shares of NetApp stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the transaction, the director now owns 9,277 shares in the company, valued at approximately $1,106,096.71. The trade was a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,049 shares of company stock worth $2,807,851. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a report on Tuesday. Barclays increased their price objective on NetApp from $119.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. Susquehanna reissued a "positive" rating and issued a $155.00 price objective on shares of NetApp in a report on Monday, August 26th. JPMorgan Chase & Co. raised NetApp from a "neutral" rating to an "overweight" rating and set a $160.00 price objective for the company in a report on Monday. Finally, Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of NetApp in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $139.20.

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.