Beverly Hills Private Wealth LLC Has $292,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Beverly Hills Private Wealth LLC raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,309 shares of the data storage provider’s stock after purchasing an additional 211 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in NetApp were worth $292,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Private Advisor Group LLC lifted its stake in shares of NetApp by 66.3% in the 1st quarter. Private Advisor Group LLC now owns 7,740 shares of the data storage provider’s stock valued at $643,000 after acquiring an additional 3,086 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of NetApp by 6.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,741 shares of the data storage provider’s stock valued at $2,469,000 after acquiring an additional 1,672 shares during the last quarter. Sei Investments Co. lifted its stake in shares of NetApp by 0.8% in the 1st quarter. Sei Investments Co. now owns 139,507 shares of the data storage provider’s stock valued at $11,563,000 after acquiring an additional 1,086 shares during the last quarter. Aviva PLC lifted its stake in shares of NetApp by 41.0% in the 1st quarter. Aviva PLC now owns 98,770 shares of the data storage provider’s stock valued at $8,198,000 after acquiring an additional 28,705 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of NetApp in the 1st quarter valued at $465,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

Shares of NetApp stock opened at $102.37 on Tuesday. NetApp, Inc. has a one year low of $60.92 and a one year high of $112.48. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.25 and a beta of 1.28. The business has a 50-day simple moving average of $98.03 and a 200 day simple moving average of $87.91. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $1.02 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, April 4th. NetApp’s payout ratio is 45.45%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTAP. StockNews.com lowered NetApp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Argus raised NetApp from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Monday, March 4th. Evercore ISI raised their target price on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. UBS Group raised their target price on NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, TD Cowen raised their target price on NetApp from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $97.94.

Insider Activity at NetApp

In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total transaction of $770,625.00. Following the completion of the sale, the chief financial officer now directly owns 152,409 shares of the company’s stock, valued at approximately $15,660,024.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the sale, the chief financial officer now directly owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The disclosure for this sale can be found here. Insiders sold 31,871 shares of company stock valued at $3,262,645 in the last three months. Corporate insiders own 0.37% of the company’s stock.

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.