NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 14.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,353 shares of the data storage provider’s stock after selling 1,565 shares during the period. Atria Wealth Solutions Inc.’s holdings in NetApp were worth $822,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NTAP. Raiffeisen Bank International AG grew its holdings in NetApp by 22.4% during the first quarter. Raiffeisen Bank International AG now owns 87,203 shares of the data storage provider’s stock worth $7,709,000 after acquiring an additional 15,973 shares during the period. Blair William & Co. IL grew its holdings in NetApp by 14.0% during the first quarter. Blair William & Co. IL now owns 20,582 shares of the data storage provider’s stock worth $1,808,000 after acquiring an additional 2,531 shares during the period. Manchester Capital Management LLC grew its holdings in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 225 shares during the period. Scotia Capital Inc. grew its holdings in NetApp by 1.1% during the first quarter. Scotia Capital Inc. now owns 49,777 shares of the data storage provider’s stock worth $4,372,000 after acquiring an additional 528 shares during the period. Finally, Liberty Wealth Management LLC acquired a new position in NetApp during the first quarter worth $1,192,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTAP. Citigroup upped their target price on NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Monday. UBS Group lowered their target price on NetApp from $115.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. upped their target price on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Barclays upped their target price on NetApp from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Finally, Wedbush reissued a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and an average target price of $119.21.

NetApp Stock Down 0.3%

Shares of NASDAQ:NTAP opened at $105.88 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The stock’s fifty day simple moving average is $104.82 and its 200-day simple moving average is $101.01. The company has a market capitalization of $21.22 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.44 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted $1.80 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s dividend payout ratio is currently 36.62%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $106.84, for a total transaction of $106,840.00. Following the completion of the sale, the executive vice president directly owned 24,251 shares in the company, valued at $2,590,976.84. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the sale, the chief accounting officer owned 455 shares in the company, valued at approximately $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,302 shares of company stock worth $1,920,479 over the last three months. 0.28% of the stock is 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.