Wealth Enhancement Advisory Services LLC Has $5.66 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Wealth Enhancement Advisory Services LLC cut its holdings in NetApp, Inc. (NASDAQ:NTAP) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,754 shares of the data storage provider’s stock after selling 2,007 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in NetApp were worth $5,659,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NTAP. Janney Montgomery Scott LLC boosted its stake in NetApp by 10.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,940 shares of the data storage provider’s stock valued at $1,618,000 after buying an additional 1,267 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in NetApp by 9.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,171 shares of the data storage provider’s stock valued at $260,000 after buying an additional 181 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in NetApp in the fourth quarter valued at about $52,000. Spire Wealth Management boosted its stake in NetApp by 13.6% in the fourth quarter. Spire Wealth Management now owns 1,674 shares of the data storage provider’s stock valued at $194,000 after buying an additional 201 shares in the last quarter. Finally, McAdam LLC boosted its stake in NetApp by 5.4% in the fourth quarter. McAdam LLC now owns 2,655 shares of the data storage provider’s stock valued at $308,000 after buying an additional 137 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTAP has been the topic of several research analyst reports. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Evercore ISI cut their price target on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Wedbush reissued a “neutral” rating and set a $110.00 price target on shares of NetApp in a research note on Friday. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price target on NetApp from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $119.27.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 19,696 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the sale, the executive vice president now owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,724 shares of company stock worth $2,520,032. 0.47% of the stock is owned by corporate insiders.

NetApp Price Performance

NetApp stock opened at $98.77 on Tuesday. The stock’s 50 day moving average is $90.31 and its 200 day moving average is $106.81. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a market cap of $20.09 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.80 earnings per share. As a group, research analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 2.11%. NetApp’s payout ratio is currently 36.62%.

NetApp Company 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.