NetApp, Inc. (NASDAQ:NTAP) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 138.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 48,187 shares of the data storage provider's stock after acquiring an additional 27,980 shares during the period. QRG Capital Management Inc.'s holdings in NetApp were worth $5,952,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in NetApp by 48.3% during the first quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider's stock worth $249,307,000 after buying an additional 773,773 shares during the last quarter. AQR Capital Management LLC increased its holdings in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider's stock worth $211,637,000 after purchasing an additional 613,583 shares in the last quarter. TD Asset Management Inc raised its stake in shares of NetApp by 26.5% in the first quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider's stock worth $225,532,000 after purchasing an additional 450,263 shares during the last quarter. TCW Group Inc. purchased a new position in shares of NetApp during the second quarter valued at approximately $56,313,000. Finally, APG Asset Management US Inc. purchased a new stake in NetApp in the 2nd quarter valued at $48,074,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Up 3.9 %

Shares of NetApp stock traded up $4.50 during midday trading on Wednesday, hitting $120.90. The company had a trading volume of 1,004,003 shares, compared to its average volume of 1,812,156. The stock has a market capitalization of $24.76 billion, a P/E ratio of 23.47, a P/E/G ratio of 4.35 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The company has a 50 day moving average of $121.09 and a 200 day moving average of $120.98. NetApp, Inc. has a 52-week low of $74.82 and a 52-week 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, beating analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. On average, equities analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.72%. NetApp's payout ratio is 40.62%.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O'callahan sold 705 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now directly owns 11,694 shares of the company's stock, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 completion of the sale, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction 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 sale, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,890 shares of company stock valued at $1,369,172 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NTAP has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of NetApp from $121.00 to $134.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Wedbush reissued a "neutral" rating and issued a $120.00 price target on shares of NetApp in a report on Monday, August 26th. Stifel Nicolaus upped their price objective on shares of NetApp from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Bank of America lifted their target price on shares of NetApp from $105.00 to $110.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NetApp from $146.00 to $147.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, NetApp has an average rating of "Hold" and a consensus target price 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.