ORG Wealth Partners LLC Acquires New Stake in NetApp, Inc. (NASDAQ:NTAP)

ORG Wealth Partners LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 881 shares of the data storage provider’s stock, valued at approximately $109,000.

A number of other institutional investors have also recently added to or reduced their stakes in NTAP. Bessemer Group Inc. raised its stake in shares of NetApp by 46.1% in the 1st quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock worth $1,754,000 after buying an additional 5,273 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of NetApp in the 1st quarter worth $473,000. Russell Investments Group Ltd. raised its stake in shares of NetApp by 60.5% in the 1st quarter. Russell Investments Group Ltd. now owns 527,064 shares of the data storage provider’s stock worth $55,355,000 after buying an additional 198,627 shares in the last quarter. National Bank of Canada FI raised its stake in shares of NetApp by 221.9% in the 1st quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock worth $32,731,000 after buying an additional 207,968 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of NetApp by 63.9% in the 1st quarter. Sei Investments Co. now owns 343,218 shares of the data storage provider’s stock worth $36,025,000 after buying an additional 133,813 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America boosted their price objective on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. UBS Group boosted their target price on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and set a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. Citigroup boosted their target price on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their target price on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research report 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 assigned a buy rating to the company. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $129.06.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

NetApp Stock Performance

NTAP opened at $126.86 on Tuesday. The business’s 50-day moving average price is $123.25 and its two-hundred day moving average price is $119.02. NetApp, Inc. has a 1 year low of $70.82 and a 1 year high of $135.01. The company has a market capitalization of $26.11 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 4.77 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 last year, the company earned $0.84 EPS. NetApp’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.64%. NetApp’s payout ratio is presently 44.83%.

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.