HB Wealth Management LLC Has $520,000 Stake in NetApp, Inc. $NTAP

HB Wealth Management LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 29.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,878 shares of the data storage provider’s stock after purchasing an additional 1,108 shares during the period. HB Wealth Management LLC’s holdings in NetApp were worth $520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in NetApp by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock worth $2,375,363,000 after purchasing an additional 597,956 shares during the last quarter. Ameriprise Financial Inc. grew its position in NetApp by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock worth $623,383,000 after purchasing an additional 72,223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock worth $311,529,000 after purchasing an additional 560,218 shares during the last quarter. Invesco Ltd. boosted its position in shares of NetApp by 12.3% during the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock valued at $308,107,000 after acquiring an additional 384,362 shares in the last quarter. Finally, Amundi boosted its position in shares of NetApp by 11.8% during the 1st quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock valued at $183,209,000 after acquiring an additional 230,793 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTAP has been the topic of several recent research reports. UBS Group lifted their target price on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Northland Securities lifted their target price on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Bank of America lifted their target price on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, August 25th. Finally, Wedbush reiterated a “neutral” rating and set a $150.00 target price on shares of NetApp in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $124.07.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,529 shares of company stock valued at $3,350,714. Corporate insiders own 0.28% of the company’s stock.

NetApp Stock Down 1.1%

Shares of NASDAQ:NTAP opened at $118.72 on Friday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company has a market capitalization of $23.70 billion, a PE ratio of 20.98, a PEG ratio of 2.58 and a beta of 1.45. The company has a 50 day moving average price of $114.37 and a two-hundred day moving average price of $102.74.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s dividend payout ratio is presently 36.75%.

About NetApp

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.