Charles Schwab Investment Management Inc. Boosts Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Charles Schwab Investment Management Inc. boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,783,635 shares of the data storage provider’s stock after buying an additional 1,237 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.85% of NetApp worth $135,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTAP. Wellington Management Group LLP lifted its holdings in NetApp by 70.3% during the 1st quarter. Wellington Management Group LLP now owns 8,329,363 shares of the data storage provider’s stock valued at $691,339,000 after buying an additional 3,439,053 shares in the last quarter. Norges Bank bought a new stake in NetApp during the 4th quarter valued at about $138,383,000. Holocene Advisors LP bought a new stake in NetApp during the 2nd quarter valued at about $122,552,000. Capital International Investors increased its position in NetApp by 12.8% during the 2nd quarter. Capital International Investors now owns 13,694,095 shares of the data storage provider’s stock valued at $1,046,202,000 after purchasing an additional 1,557,335 shares during the period. Finally, California Public Employees Retirement System increased its position in NetApp by 184.4% during the 2nd quarter. California Public Employees Retirement System now owns 1,208,847 shares of the data storage provider’s stock valued at $92,356,000 after purchasing an additional 783,845 shares during the period. Institutional investors own 90.25% of the company’s stock.

NetApp Stock Up 1.0 %

NTAP stock opened at $89.85 on Friday. The firm has a 50 day moving average of $88.13 and a 200 day moving average of $80.81. The stock has a market capitalization of $18.51 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.09 and a beta of 1.28. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 2.59. NetApp, Inc. has a 52 week low of $59.73 and a 52 week high of $91.78.

NetApp (NASDAQ:NTAPGet Free Report) last released its earnings results on Tuesday, November 28th. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.19. NetApp had a net margin of 11.34% and a return on equity of 94.77%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $1.20 EPS. NetApp’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts forecast that NetApp, Inc. will post 4.85 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, January 4th. NetApp’s payout ratio is 62.11%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $86.27, for a total transaction of $75,141.17. Following the completion of the sale, the executive vice president now directly owns 10,856 shares in the company, valued at approximately $936,547.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $86.27, for a total transaction of $75,141.17. Following the completion of the sale, the executive vice president now directly owns 10,856 shares in the company, valued at approximately $936,547.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $85.82, for a total transaction of $643,650.00. Following the completion of the transaction, the chief financial officer now owns 165,422 shares of the company’s stock, valued at $14,196,516.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,242 shares of company stock worth $796,746. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on NTAP shares. Citigroup raised their target price on shares of NetApp from $83.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, November 30th. Wells Fargo & Company raised their target price on shares of NetApp from $72.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 29th. Northland Securities downgraded shares of NetApp from an “outperform” rating to a “market perform” rating and set a $100.00 target price on the stock. in a research report on Wednesday, November 29th. Stifel Nicolaus raised their target price on shares of NetApp from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, Wedbush raised their target price on shares of NetApp from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.50.

Read Our Latest Stock Report on NetApp

NetApp Company 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.

Further Reading

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAPFree Report).

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.