NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 101.2% in the second quarter, Holdings Channel.com reports. The fund owned 6,396 shares of the data storage provider’s stock after buying an additional 3,217 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in NetApp were worth $497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in NetApp in the first quarter valued at about $28,000. Global Retirement Partners LLC raised its holdings in NetApp by 51.6% in the first quarter. Global Retirement Partners LLC now owns 464 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 158 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in NetApp by 34.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 595 shares of the data storage provider’s stock valued at $45,000 after acquiring an additional 152 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in NetApp by 157.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 785 shares of the data storage provider’s stock worth $50,000 after acquiring an additional 480 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. lifted its position in shares of NetApp by 41.1% during the second quarter. Caldwell Sutter Capital Inc. now owns 748 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 218 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $75.70, for a total transaction of $1,665,400.00. Following the completion of the sale, the president now directly owns 81,659 shares of the company’s stock, valued at approximately $6,181,586.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NetApp news, President Cesar Cernuda sold 22,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $75.70, for a total transaction of $1,665,400.00. Following the transaction, the president now directly owns 81,659 shares of the company’s stock, valued at $6,181,586.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.58, for a total value of $69,314.18. Following the sale, the executive vice president now owns 12,770 shares of the company’s stock, valued at approximately $1,016,236.60. The disclosure for this sale can be found here. Insiders have sold 76,489 shares of company stock worth $5,909,145 over the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NetApp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, August 21st. Citigroup raised their price objective on shares of NetApp from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, August 24th. William Blair downgraded NetApp from an “outperform” rating to a “market perform” rating in a research note on Monday, September 18th. Stifel Nicolaus lifted their target price on NetApp from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, UBS Group boosted their price target on shares of NetApp from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.84.

NetApp Trading Up 0.3 %

NASDAQ:NTAP opened at $78.92 on Thursday. The stock has a market cap of $16.48 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.14 and a beta of 1.20. NetApp, Inc. has a fifty-two week low of $58.08 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s 50-day moving average is $75.74 and its two-hundred day moving average is $74.19.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.08. NetApp had a net margin of 19.49% and a return on equity of 85.69%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that NetApp, Inc. will post 4.48 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.53%. NetApp’s payout ratio is 36.17%.

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.