Envestnet Asset Management Inc. Acquires 11,256 Shares of NetApp, Inc. (NASDAQ:NTAP)

Envestnet Asset Management Inc. grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 273,249 shares of the data storage provider’s stock after buying an additional 11,256 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of NetApp worth $16,411,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTAP. Ten Capital Wealth Advisors LLC bought a new position in shares of NetApp during the 3rd quarter worth approximately $27,000. Romano Brothers AND Company bought a new position in shares of NetApp in the 4th quarter worth $57,000. Global Wealth Strategies & Associates bought a new position in shares of NetApp in the 4th quarter worth $72,000. Ameliora Wealth Management Ltd. bought a new position in shares of NetApp in the 3rd quarter worth $73,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of NetApp by 12.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,321 shares of the data storage provider’s stock worth $82,000 after purchasing an additional 148 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 2,250 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $64.50, for a total transaction of $145,125.00. Following the completion of the transaction, the chief executive officer now owns 142,670 shares in the company, valued at approximately $9,202,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NetApp news, CEO George Kurian sold 2,250 shares of the firm’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $64.50, for a total value of $145,125.00. Following the completion of the transaction, the chief executive officer now owns 142,670 shares in the company, valued at approximately $9,202,215. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $60.09, for a total value of $1,081,620.00. Following the completion of the transaction, the president now owns 44,829 shares of the company’s stock, valued at approximately $2,693,774.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,000 shares of company stock worth $1,664,033. 0.26% of the stock is owned by company insiders.

NetApp Stock Up 0.2 %

NTAP stock opened at $64.00 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.29 and a current ratio of 1.34. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.64 and a beta of 1.20. NetApp, Inc. has a fifty-two week low of $58.08 and a fifty-two week high of $79.09. The stock has a fifty day moving average of $63.54 and a 200-day moving average of $65.34.

NetApp (NASDAQ:NTAP – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The data storage provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.06. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.61 billion. NetApp had a return on equity of 103.19% and a net margin of 19.93%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. As a group, equities research analysts predict that NetApp, Inc. will post 4.29 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Thursday, April 6th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.13%. NetApp’s payout ratio is 34.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NTAP. StockNews.com began coverage on NetApp in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Citigroup cut their target price on NetApp from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Credit Suisse Group lowered NetApp from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 23rd. JPMorgan Chase & Co. lowered their price target on NetApp from $75.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 23rd. Finally, Stifel Nicolaus raised NetApp from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Monday, April 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.24.

NetApp Company Profile

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NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.