Barclays PLC Has $26.68 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Barclays PLC increased its position in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 32.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 431,417 shares of the data storage provider’s stock after purchasing an additional 106,625 shares during the period. Barclays PLC owned approximately 0.20% of NetApp worth $26,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NTAP. First Horizon Advisors Inc. lifted its holdings in NetApp by 237.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 482 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 339 shares during the last quarter. Ronald Blue Trust Inc. lifted its holdings in NetApp by 183.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 550 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 356 shares during the last quarter. Gradient Investments LLC lifted its holdings in NetApp by 57.3% during the 3rd quarter. Gradient Investments LLC now owns 629 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 229 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in NetApp by 457.7% during the 2nd quarter. Lindbrook Capital LLC now owns 976 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 801 shares during the last quarter. Finally, CX Institutional acquired a new stake in NetApp during the 2nd quarter worth approximately $70,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NTAP shares. Barclays lowered NetApp from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $83.00 to $71.00 in a research note on Tuesday, January 10th. Loop Capital lowered NetApp from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $100.00 to $67.00 in a research note on Monday, December 5th. Northland Securities lowered their price objective on NetApp from $101.00 to $99.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 30th. Cowen lowered their price objective on NetApp from $93.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on NetApp from $84.00 to $78.00 in a research note on Wednesday, November 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.95.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 4,500 shares of NetApp stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $65.29, for a total transaction of $293,805.00. Following the transaction, the chief executive officer now directly owns 159,226 shares of the company’s stock, valued at approximately $10,395,865.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NetApp news, Director Carrie Palin sold 2,707 shares of NetApp stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $64.30, for a total transaction of $174,060.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 4,500 shares of NetApp stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $65.29, for a total value of $293,805.00. Following the transaction, the chief executive officer now directly owns 159,226 shares in the company, valued at $10,395,865.54. The disclosure for this sale can be found here. Insiders have sold a total of 11,707 shares of company stock valued at $748,890 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

NetApp Trading Up 1.5 %

NASDAQ NTAP opened at $65.47 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 1.99. NetApp, Inc. has a twelve month low of $58.08 and a twelve month high of $92.40. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.18. The business’s fifty day moving average is $65.29 and its 200 day moving average is $67.57.

NetApp (NASDAQ:NTAP – Get Rating) last released its quarterly earnings data on Tuesday, November 29th. The data storage provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. NetApp had a return on equity of 115.30% and a net margin of 22.52%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, sell-side analysts expect that NetApp, Inc. will post 4.37 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, January 5th. NetApp’s dividend payout ratio (DPR) is 30.26%.

NetApp Company Profile

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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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.