Jump Financial LLC Has $1.79 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Jump Financial LLC grew its position in NetApp, Inc. (NASDAQ:NTAPFree Report) by 89.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,337 shares of the data storage provider’s stock after purchasing an additional 9,576 shares during the period. Jump Financial LLC’s holdings in NetApp were worth $1,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mission Wealth Management LP lifted its position in NetApp by 3.3% during the 4th quarter. Mission Wealth Management LP now owns 3,639 shares of the data storage provider’s stock worth $321,000 after buying an additional 115 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in NetApp by 58.7% during the fourth quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC boosted its position in NetApp by 10.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,336 shares of the data storage provider’s stock valued at $118,000 after purchasing an additional 123 shares during the last quarter. Hennessy Advisors Inc. grew its stake in NetApp by 0.3% in the fourth quarter. Hennessy Advisors Inc. now owns 41,209 shares of the data storage provider’s stock valued at $3,633,000 after purchasing an additional 134 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of NetApp by 40.4% during the 3rd quarter. Huntington National Bank now owns 490 shares of the data storage provider’s stock worth $37,000 after purchasing an additional 141 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. UBS Group upped their target price on shares of NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Citigroup lifted their price target on NetApp from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Argus upgraded NetApp from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Monday, March 4th. Finally, TD Cowen lifted their target price on NetApp from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $100.60.

Check Out Our Latest Stock Analysis on NetApp

NetApp Price Performance

NASDAQ:NTAP opened at $109.04 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. NetApp, Inc. has a 52 week low of $63.33 and a 52 week high of $112.48. The firm’s 50-day simple moving average is $103.66 and its 200 day simple moving average is $91.86. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 2.25 and a beta of 1.27.

NetApp (NASDAQ:NTAPGet Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. NetApp’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. As a group, sell-side analysts predict that NetApp, Inc. will post 5.16 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were issued a $0.50 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.83%. NetApp’s dividend payout ratio (DPR) is currently 45.45%.

Insider Activity

In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the sale, the chief financial officer now owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the transaction, the chief financial officer now directly owns 152,409 shares in the company, valued at $15,660,024.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Berry sold 15,000 shares of NetApp stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.67, for a total value of $1,540,050.00. Following the sale, the chief financial officer now directly owns 144,909 shares in the company, valued at $14,877,807.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,371 shares of company stock worth $4,139,505. Corporate insiders own 0.37% of the company’s stock.

About NetApp

(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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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