NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,236 shares of the data storage provider’s stock after purchasing an additional 192 shares during the period. Venturi Wealth Management LLC’s holdings in NetApp were worth $143,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Truist Financial Corp increased its holdings in shares of NetApp by 10.0% during the fourth quarter. Truist Financial Corp now owns 18,222 shares of the data storage provider’s stock valued at $2,115,000 after purchasing an additional 1,657 shares during the period. CIBC Asset Management Inc grew its holdings in NetApp by 4.2% during the fourth quarter. CIBC Asset Management Inc now owns 31,925 shares of the data storage provider’s stock worth $3,706,000 after acquiring an additional 1,298 shares during the period. Human Investing LLC acquired a new position in NetApp during the fourth quarter worth about $107,000. Principal Financial Group Inc. grew its holdings in NetApp by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 294,309 shares of the data storage provider’s stock worth $34,163,000 after acquiring an additional 11,842 shares during the period. Finally, Monument Capital Management grew its holdings in NetApp by 5.8% during the fourth quarter. Monument Capital Management now owns 19,749 shares of the data storage provider’s stock worth $2,293,000 after acquiring an additional 1,087 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $121.00 to $128.00 in a report on Wednesday. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer began coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley lifted their price target on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $137.33.

NetApp Trading Down 0.1 %

Shares of NASDAQ NTAP opened at $124.47 on Friday. NetApp, Inc. has a one year low of $85.28 and a one year high of $135.45. The firm has a market capitalization of $25.31 billion, a PE ratio of 22.88, a PEG ratio of 2.45 and a beta of 1.23. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $120.12 and a two-hundred day moving average price of $121.92.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $1.23 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,903 shares of company stock worth $7,260,341 in the last three months. 0.47% of the stock is owned by 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.