TCW Group Inc. Has $62.06 Million Position in NetApp, Inc. (NASDAQ:NTAP)

TCW Group Inc. boosted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 14.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 502,438 shares of the data storage provider's stock after purchasing an additional 65,223 shares during the period. TCW Group Inc. owned about 0.25% of NetApp worth $62,056,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in NetApp by 11.8% in the second quarter. UMB Bank n.a. now owns 784 shares of the data storage provider's stock valued at $101,000 after buying an additional 83 shares during the last quarter. Aviso Wealth Management increased its holdings in shares of NetApp by 1.4% in the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider's stock valued at $792,000 after acquiring an additional 83 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in NetApp by 4.3% during the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider's stock worth $290,000 after purchasing an additional 92 shares during the last quarter. Quarry LP boosted its holdings in NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider's stock worth $113,000 after purchasing an additional 92 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its stake in NetApp by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider's stock valued at $2,437,000 after purchasing an additional 95 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Up 1.2 %

Shares of NetApp stock traded up $1.44 on Wednesday, reaching $122.66. 2,043,779 shares of the company were exchanged, compared to its average volume of 1,858,307. NetApp, Inc. has a fifty-two week low of $83.62 and a fifty-two week high of $135.45. The firm has a market capitalization of $24.94 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. 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 stock has a fifty day moving average price of $122.92 and a 200-day moving average price of $123.92.

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 (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company earned $1.23 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts expect that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp's payout ratio is 38.24%.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O'callahan sold 705 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 11,694 shares in the company, valued at $1,475,782.80. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,049 shares of company stock valued at $2,807,851 in the last three months. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent research reports. Barclays raised their price target on shares of NetApp from $119.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, November 22nd. UBS Group upped their target price on shares of NetApp from $121.00 to $134.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Citigroup boosted their price objective on NetApp from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on NetApp from $146.00 to $147.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Finally, Bank of America increased their target price on shares of NetApp from $115.00 to $121.00 and gave the company an "underperform" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, NetApp presently has an average rating of "Hold" and an average price target of $137.40.

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.