SVB Wealth LLC Takes $242,000 Position in NetApp, Inc. (NASDAQ:NTAP)

SVB Wealth LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,750 shares of the data storage provider’s stock, valued at approximately $242,000.

A number of other hedge funds also recently made changes to their positions in NTAP. ORG Partners LLC increased its stake in shares of NetApp by 14,650.0% during the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 293 shares during the period. Larson Financial Group LLC bought a new position in shares of NetApp during the third quarter worth approximately $27,000. First Pacific Financial bought a new position in shares of NetApp during the third quarter worth approximately $29,000. UMB Bank n.a. increased its stake in shares of NetApp by 82.9% during the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 150 shares during the period. Finally, Planned Solutions Inc. bought a new position in shares of NetApp during the fourth quarter worth approximately $34,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and set a $120.00 price objective (up previously from $105.00) on shares of NetApp in a research note on Friday, March 1st. Barclays raised their price objective on NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Raymond James restated a “market perform” rating on shares of NetApp in a research note on Tuesday, January 16th. Citigroup raised their price objective on NetApp from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised their price objective on NetApp from $87.00 to $95.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $100.60.

NetApp Trading Down 0.0 %

NASDAQ NTAP opened at $97.91 on Tuesday. The business’s fifty day moving average is $99.14 and its 200 day moving average is $88.77. NetApp, Inc. has a twelve month low of $60.92 and a twelve month high of $112.48. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.16 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business earned $1.02 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 45.45%.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at $989,095.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Michael J. Berry sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the sale, the chief financial officer now directly owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at $989,095.02. The disclosure for this sale can be found here. Insiders sold a total of 40,371 shares of company stock valued at $4,139,505 over the last ninety days. 0.37% of the stock is currently owned by insiders.

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.