NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,283 shares of the data storage provider’s stock after acquiring an additional 140 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in NetApp were worth $1,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in NetApp by 65.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,615 shares of the data storage provider’s stock worth $7,812,000 after acquiring an additional 35,172 shares in the last quarter. Nordea Investment Management AB increased its stake in NetApp by 26.1% in the fourth quarter. Nordea Investment Management AB now owns 317,073 shares of the data storage provider’s stock valued at $27,855,000 after purchasing an additional 65,644 shares during the period. Vest Financial LLC increased its stake in NetApp by 24.1% in the fourth quarter. Vest Financial LLC now owns 147,518 shares of the data storage provider’s stock valued at $13,005,000 after purchasing an additional 28,609 shares during the period. Savant Capital LLC increased its stake in NetApp by 7.5% in the fourth quarter. Savant Capital LLC now owns 3,037 shares of the data storage provider’s stock valued at $268,000 after purchasing an additional 211 shares during the period. Finally, TD Asset Management Inc increased its stake in NetApp by 127.0% in the fourth quarter. TD Asset Management Inc now owns 1,698,277 shares of the data storage provider’s stock valued at $149,720,000 after purchasing an additional 950,204 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Performance

NASDAQ:NTAP opened at $122.91 on Tuesday. The firm has a 50 day simple moving average of $108.57 and a 200-day simple moving average of $97.51. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.19 and a quick ratio of 1.15. The firm has a market cap of $25.37 billion, a PE ratio of 26.49, a P/E/G ratio of 4.88 and a beta of 1.25. NetApp, Inc. has a 1-year low of $69.71 and a 1-year high of $122.91.

NetApp (NASDAQ:NTAPGet Free Report) last posted its quarterly earnings data on Thursday, May 30th. The data storage provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.32. NetApp had a net margin of 15.73% and a return on equity of 114.54%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that NetApp, Inc. will post 5.49 EPS for the current year.

NetApp announced that its board has initiated a stock repurchase program on Thursday, May 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

NetApp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.52 per share. This is a positive change from NetApp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.08 annualized dividend and a yield of 1.69%. NetApp’s dividend payout ratio is 43.10%.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $101.44, for a total transaction of $862,240.00. Following the completion of the transaction, the chief executive officer now owns 261,202 shares of the company’s stock, valued at $26,496,330.88. The sale was disclosed in a document filed 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 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 directly owns 9,601 shares in the company, valued at $989,095.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00. Following the sale, the chief executive officer now owns 261,202 shares of the company’s stock, valued at $26,496,330.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,871 shares of company stock valued at $1,828,830. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on NTAP shares. Wells Fargo & Company lifted their price objective on shares of NetApp from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Evercore ISI lifted their price objective on shares of NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. Stifel Nicolaus lifted their target price on shares of NetApp from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays lifted their target price on shares of NetApp from $100.00 to $116.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Finally, Wedbush lifted their target price on shares of NetApp from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $113.38.

Check Out Our Latest Stock Report on NTAP

NetApp 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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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