Kapitalo Investimentos Ltda Acquires Shares of 4,876 NetApp, Inc. (NASDAQ:NTAP)

Kapitalo Investimentos Ltda purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,876 shares of the data storage provider’s stock, valued at approximately $602,000.

A number of other large investors also recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in shares of NetApp by 11.8% in the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after purchasing an additional 83 shares during the period. Aviso Wealth Management raised its stake in NetApp by 1.4% during the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after buying an additional 83 shares during the period. Waldron Private Wealth LLC raised its stake in NetApp by 4.3% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after buying an additional 92 shares during the period. Quarry LP raised its stake in NetApp by 11.7% during the 2nd quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after buying an additional 92 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its stake in NetApp by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock worth $2,437,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NTAP. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Bank of America lifted their price target on NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Susquehanna reissued a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $129.06.

NetApp Trading Down 1.2 %

Shares of NASDAQ:NTAP opened at $125.38 on Wednesday. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01. The stock has a market cap of $25.80 billion, a PE ratio of 27.02, a P/E/G ratio of 4.77 and a beta of 1.23. The business has a 50 day moving average of $123.42 and a 200-day moving average of $119.17. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, October 4th. NetApp’s dividend payout ratio is presently 44.83%.

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.