Philip James Wealth Mangement LLC Purchases New Holdings in NetApp, Inc. (NASDAQ:NTAP)

Philip James Wealth Mangement LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,956 shares of the data storage provider's stock, valued at approximately $2,094,000.

Several other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of NetApp by 46.1% in the first quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider's stock worth $1,754,000 after acquiring an additional 5,273 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of NetApp during the first quarter worth $473,000. Russell Investments Group Ltd. increased its holdings in shares of NetApp by 60.5% during the first quarter. Russell Investments Group Ltd. now owns 527,064 shares of the data storage provider's stock worth $55,355,000 after buying an additional 198,627 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of NetApp by 221.9% in the 1st quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider's stock valued at $32,731,000 after acquiring an additional 207,968 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of NetApp by 63.9% during the 1st quarter. Sei Investments Co. now owns 343,218 shares of the data storage provider's stock valued at $36,025,000 after acquiring an additional 133,813 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the company's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NetApp news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the transaction, the chief executive officer now directly owns 292,778 shares in the company, valued at approximately $36,922,233.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the company'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 disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock worth $1,369,172 over the last three months. 0.47% of the stock is currently owned by insiders.

NetApp Stock Up 1.0 %

Shares of NTAP stock traded up $1.18 on Friday, reaching $124.01. 1,367,640 shares of the company were exchanged, compared to its average volume of 1,815,365. 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 company has a 50-day moving average of $121.01 and a 200-day moving average of $121.17. The company has a market cap of $25.39 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 4.33 and a beta of 1.24. NetApp, Inc. has a one year low of $75.32 and a one year high of $135.01.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. Analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, October 4th. NetApp's dividend payout ratio (DPR) is 40.63%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Evercore ISI increased their target price on NetApp from $120.00 to $130.00 and gave the company an "in-line" rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of NetApp from $146.00 to $147.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Citigroup boosted their target price on shares of NetApp from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Barclays raised their price target on shares of NetApp from $116.00 to $119.00 and gave the company an "equal weight" rating in a research note on Thursday, August 29th. Finally, UBS Group increased their price objective on NetApp from $121.00 to $134.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $129.06.

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.