NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 302,010 shares of the data storage provider’s stock after buying an additional 24,651 shares during the quarter. Intech Investment Management LLC’s holdings in NetApp were worth $37,301,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of NetApp by 11.8% during the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock worth $101,000 after purchasing an additional 83 shares in the last quarter. Aviso Wealth Management increased its stake in shares of 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 purchasing an additional 83 shares in the last quarter. Waldron Private Wealth LLC increased its stake in shares of 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 purchasing an additional 92 shares in the last quarter. Quarry LP increased its stake in shares of 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 purchasing an additional 92 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in shares of 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 purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Performance

NetApp stock opened at $123.45 on Thursday. NetApp, Inc. has a 12-month low of $77.30 and a 12-month high of $135.01. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The firm’s fifty day moving average price is $121.56 and its 200 day moving average price is $122.36.

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

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio (DPR) is 40.63%.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Michael Nevens sold 3,333 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $119.23, for a total transaction of $397,393.59. Following the sale, the director now directly owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,049 shares of company stock valued at $2,807,851 in the last quarter. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NTAP. Oppenheimer began coverage on shares of NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Wedbush reaffirmed a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Monday, August 26th. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Susquehanna reaffirmed a “positive” rating and issued a $155.00 target price on shares of NetApp in a research note on Monday, August 26th. Finally, Evercore ISI lifted their target price on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $129.06.

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.