Quarry LP Buys 92 Shares of NetApp, Inc. (NASDAQ:NTAP)

Quarry LP increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 876 shares of the data storage provider’s stock after acquiring an additional 92 shares during the period. Quarry LP’s holdings in NetApp were worth $113,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of NetApp by 46.1% during the 1st quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock worth $1,754,000 after purchasing an additional 5,273 shares in the last quarter. Headlands Technologies LLC acquired a new stake in NetApp in the first quarter valued at $473,000. Cubist Systematic Strategies LLC grew its position in shares of NetApp by 189.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 263,103 shares of the data storage provider’s stock valued at $23,195,000 after acquiring an additional 172,132 shares during the period. Russell Investments Group Ltd. increased its stake in shares of NetApp by 60.5% during the 1st quarter. Russell Investments Group Ltd. now owns 527,064 shares of the data storage provider’s stock worth $55,355,000 after purchasing an additional 198,627 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of NetApp by 221.9% in the 1st quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock valued at $32,731,000 after purchasing an additional 207,968 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s 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 filing with the SEC, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $130.36, for a total transaction of $1,108,060.00. Following the transaction, the chief executive officer now owns 314,274 shares of the company’s stock, valued at $40,968,758.64. The disclosure for this sale can be found here. Insiders sold 10,637 shares of company stock worth $1,376,474 over the last three months. Insiders own 0.37% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $121.31 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. NetApp, Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $135.01. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 4.61 and a beta of 1.23. The stock has a fifty day moving average price of $122.92 and a 200-day moving average price of $117.71.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 earnings per share. As a group, equities analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.71%. NetApp’s dividend payout ratio is currently 44.83%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NTAP shares. JPMorgan Chase & Co. upped their price objective on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Citigroup raised their price target on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Susquehanna reiterated a “positive” rating and issued a $155.00 price objective on shares of NetApp in a report on Monday, August 26th. Barclays raised their target price on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Finally, UBS Group upped their price target on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $129.06.

NetApp Company 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.