Creative Planning Acquires 2,073 Shares of NetApp, Inc. (NASDAQ:NTAP)

Creative Planning grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 8.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,001 shares of the data storage provider’s stock after buying an additional 2,073 shares during the quarter. Creative Planning’s holdings in NetApp were worth $3,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of NetApp by 17.5% during the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock valued at $359,517,000 after buying an additional 416,233 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of NetApp by 3.5% in the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after purchasing an additional 82,378 shares during the period. TD Asset Management Inc boosted its holdings in shares of NetApp by 26.5% in the first quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock valued at $225,532,000 after purchasing an additional 450,263 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of NetApp by 11.9% in the first quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock valued at $208,133,000 after purchasing an additional 211,204 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of NetApp by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock valued at $223,806,000 after purchasing an additional 196,952 shares during the period. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NTAP shares. Evercore ISI boosted their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a report on Monday, August 12th. Barclays boosted their price target on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. UBS Group boosted their price target on NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and upped their target price for the stock from $121.00 to $150.00 in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $129.06.

Check Out Our Latest Analysis on NTAP

NetApp Stock Performance

Shares of NTAP stock opened at $119.41 on Friday. The business’s fifty day simple moving average is $123.15 and its 200-day simple moving average is $119.95. The company has a market cap of $24.45 billion, a PE ratio of 23.32, a PEG ratio of 4.49 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01.

NetApp (NASDAQ:NTAPGet Free Report) last issued its quarterly earnings results 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 business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. Analysts expect that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, October 4th. NetApp’s payout ratio is 40.63%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the sale, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the sale, the chief executive officer now directly owns 292,778 shares in the company, valued at $36,922,233.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,890 shares of company stock valued at $1,369,172 in the last ninety days. Company insiders own 0.47% of the company’s stock.

NetApp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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