Seizert Capital Partners LLC Buys 8,944 Shares of NetApp, Inc. (NASDAQ:NTAP)

Seizert Capital Partners LLC boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,444 shares of the data storage provider's stock after buying an additional 8,944 shares during the period. NetApp makes up about 2.5% of Seizert Capital Partners LLC's holdings, making the stock its 8th biggest position. Seizert Capital Partners LLC owned approximately 0.22% of NetApp worth $56,375,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in shares of NetApp during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of NetApp during the 3rd quarter worth about $27,000. Redwood Wealth Management Group LLC bought a new stake in shares of NetApp during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. bought a new stake in shares of NetApp during the 1st quarter worth about $28,000. Finally, Crewe Advisors LLC bought a new stake in shares of NetApp during the 1st quarter worth about $35,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on NTAP. 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 note on Monday, August 12th. Bank of America increased their target price on NetApp from $105.00 to $110.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on NetApp from $146.00 to $147.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Loop Capital upgraded NetApp from a "hold" rating to a "buy" rating and increased their target price for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus upped their price target on NetApp from $138.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.06.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O'callahan sold 705 shares of the firm's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,890 shares of company stock worth $1,369,172. Insiders own 0.47% of the company's stock.

NetApp Price Performance

NTAP stock traded down $0.86 during midday trading on Friday, reaching $117.21. 1,973,045 shares of the company's stock traded hands, compared to its average volume of 1,449,462. The company has a 50-day simple moving average of $121.17 and a two-hundred day simple moving average of $121.96. NetApp, Inc. has a 1-year low of $76.41 and a 1-year high of $135.01. The company has a market cap of $24.00 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 3.01 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34.

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

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. NetApp's payout ratio is 40.63%.

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.