NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,600 shares of the data storage provider’s stock after buying an additional 2,551 shares during the period. LPL Financial LLC’s holdings in NetApp were worth $2,949,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in shares of NetApp during the first quarter worth about $28,000. Global Retirement Partners LLC boosted its holdings in NetApp by 51.6% in the 1st quarter. Global Retirement Partners LLC now owns 464 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in NetApp by 41.1% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 748 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 218 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in NetApp by 157.4% in the 1st quarter. HHM Wealth Advisors LLC now owns 785 shares of the data storage provider’s stock valued at $50,000 after purchasing an additional 480 shares in the last quarter. Finally, WealthPLAN Partners LLC purchased a new stake in NetApp in the 1st quarter valued at approximately $65,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

NetApp Trading Down 0.3 %

NTAP stock opened at $75.60 on Wednesday. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.12 and a beta of 1.20. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 2.74. The business has a fifty day simple moving average of $75.83 and a 200-day simple moving average of $73.66. NetApp, Inc. has a 52 week low of $58.08 and a 52 week high of $80.53.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.08. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. NetApp had a return on equity of 85.69% and a net margin of 19.49%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. On average, equities research analysts expect that NetApp, Inc. will post 4.48 EPS for the current year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.65%. NetApp’s dividend payout ratio (DPR) is 36.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTAP. Citigroup lifted their price objective on NetApp from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, August 24th. Raymond James boosted their price target on NetApp from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Wedbush reissued a “neutral” rating and set a $75.00 price target on shares of NetApp in a research note on Thursday, August 24th. William Blair lowered NetApp from an “outperform” rating to a “market perform” rating in a research note on Monday, September 18th. Finally, TD Cowen boosted their price target on NetApp from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.84.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $79.44, for a total transaction of $1,747,680.00. Following the completion of the sale, the president now directly owns 103,659 shares of the company’s stock, valued at approximately $8,234,670.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $79.44, for a total transaction of $1,747,680.00. Following the completion of the sale, the president now directly owns 103,659 shares of the company’s stock, valued at approximately $8,234,670.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.58, for a total transaction of $69,314.18. Following the sale, the executive vice president now directly owns 12,770 shares of the company’s stock, valued at $1,016,236.60. The disclosure for this sale can be found here. In the last three months, insiders sold 76,489 shares of company stock valued at $5,909,145. Company insiders own 0.37% of the company’s stock.

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.