NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Stephens Inc. AR

Stephens Inc. AR cut its position in NetApp, Inc. (NASDAQ:NTAPGet Rating) by 53.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,898 shares of the data storage provider’s stock after selling 5,712 shares during the quarter. Stephens Inc. AR’s holdings in NetApp were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. North Star Investment Management Corp. increased its position in NetApp by 200.0% during the fourth quarter. North Star Investment Management Corp. now owns 300 shares of the data storage provider’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Cyrus J. Lawrence LLC purchased a new stake in shares of NetApp during the first quarter worth about $28,000. Benjamin Edwards Inc. purchased a new stake in shares of NetApp during the fourth quarter worth about $32,000. Steward Partners Investment Advisory LLC increased its holdings in NetApp by 40.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 406 shares of the data storage provider’s stock valued at $37,000 after buying an additional 116 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in NetApp by 43.0% in the first quarter. CENTRAL TRUST Co now owns 552 shares of the data storage provider’s stock valued at $46,000 after buying an additional 166 shares during the last quarter. 91.91% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

NASDAQ:NTAP opened at $72.55 on Thursday. NetApp, Inc. has a 12-month low of $61.26 and a 12-month high of $96.82. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $15.94 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.84 and a beta of 1.22. The firm has a 50-day moving average price of $67.59 and a 200 day moving average price of $76.52.

NetApp (NASDAQ:NTAPGet Rating) last posted its quarterly earnings data on Wednesday, June 1st. The data storage provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.17. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. NetApp had a net margin of 14.83% and a return on equity of 127.40%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. Research analysts anticipate that NetApp, Inc. will post 4.45 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Friday, July 8th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.76%. NetApp’s dividend payout ratio (DPR) is currently 48.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTAP. Cowen decreased their target price on NetApp to $85.00 in a research note on Friday, May 27th. Wedbush dropped their price target on NetApp from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, June 2nd. Wells Fargo & Company lowered their price target on shares of NetApp from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, June 2nd. Barclays lowered their price target on shares of NetApp from $102.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, June 2nd. Finally, OTR Global upgraded shares of NetApp to a “positive” rating in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NetApp has a consensus rating of “Moderate Buy” and an average price target of $91.55.

Insider Activity

In related news, CFO Michael J. Berry purchased 5,000 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were acquired at an average cost of $72.04 per share, with a total value of $360,200.00. Following the completion of the purchase, the chief financial officer now directly owns 95,875 shares of the company’s stock, valued at $6,906,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NetApp news, CFO Michael J. Berry acquired 5,000 shares of NetApp stock in a transaction on Friday, June 3rd. The shares were purchased at an average cost of $72.04 per share, with a total value of $360,200.00. Following the completion of the purchase, the chief financial officer now owns 95,875 shares in the company, valued at $6,906,835. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 2,125 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $66.95, for a total transaction of $142,268.75. Following the completion of the transaction, the chief executive officer now directly owns 156,129 shares in the company, valued at $10,452,836.55. The disclosure for this sale can be found here. Insiders have sold 28,625 shares of company stock valued at $1,889,651 over the last three months. 0.26% of the stock is owned by insiders.

NetApp Company Profile

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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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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