Mission Wealth Management LP Purchases 115 Shares of NetApp, Inc. (NASDAQ:NTAP)

Mission Wealth Management LP boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,639 shares of the data storage provider’s stock after buying an additional 115 shares during the period. Mission Wealth Management LP’s holdings in NetApp were worth $321,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NTAP. ORG Partners LLC increased its holdings in NetApp by 14,650.0% during the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after buying an additional 293 shares during the last quarter. UMB Bank n.a. increased its position in NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after buying an additional 150 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of NetApp during the 3rd quarter valued at about $27,000. Planned Solutions Inc. bought a new position in shares of NetApp during the 4th quarter valued at approximately $34,000. Finally, Huntington National Bank increased its holdings in NetApp by 40.4% in the 3rd quarter. Huntington National Bank now owns 490 shares of the data storage provider’s stock worth $37,000 after acquiring an additional 141 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Price Performance

NTAP stock opened at $104.64 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00. NetApp, Inc. has a 12 month low of $61.54 and a 12 month high of $112.48. The stock has a market cap of $21.60 billion, a PE ratio of 23.78, a P/E/G ratio of 2.13 and a beta of 1.27. The company has a 50-day moving average price of $101.53 and a 200 day moving average price of $89.99.

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

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.91%. NetApp’s dividend payout ratio (DPR) is currently 45.45%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Raymond James reissued a “market perform” rating on shares of NetApp in a report on Tuesday, January 16th. Citigroup raised their target price on shares of NetApp from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price target (up previously from $105.00) on shares of NetApp in a research note on Friday, March 1st. Finally, Evercore ISI lifted their target price on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $100.60.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were 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 owns 9,601 shares of the company’s stock, valued at $989,095.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $101.44, for a total value of $862,240.00. Following the completion of the sale, the chief executive officer now directly owns 261,202 shares in the company, valued at approximately $26,496,330.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now directly owns 9,601 shares in the company, valued at approximately $989,095.02. The disclosure for this sale can be found here. Insiders have sold 40,371 shares of company stock worth $4,139,505 in the last ninety days. 0.37% of the stock is owned by company insiders.

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.