Legacy Capital Group California Inc. Trims Holdings in NetApp, Inc. (NASDAQ:NTAP)

Legacy Capital Group California Inc. decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,730 shares of the data storage provider’s stock after selling 110 shares during the period. Legacy Capital Group California Inc.’s holdings in NetApp were worth $461,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NTAP. UMB Bank n.a. lifted 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 valued at $101,000 after buying an additional 83 shares in the last quarter. Aviso Wealth Management lifted its position in shares of NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after acquiring an additional 83 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in shares of NetApp by 4.3% in the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after acquiring an additional 92 shares during the period. Quarry LP grew its position in shares of NetApp by 11.7% during the second 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 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 valued at $2,437,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $119.41 on Friday. The business’s 50 day moving average price is $123.37 and its 200-day moving average price is $119.85. NetApp, Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $135.01. The company has a market cap of $24.45 billion, a P/E ratio of 23.32, a P/E/G ratio of 4.49 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96.

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

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a dividend of $0.52 per share. The ex-dividend date was Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. NetApp’s dividend payout ratio (DPR) is presently 40.63%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NTAP. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research note on Monday, August 26th. Bank of America upped their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Susquehanna reiterated a “positive” rating and issued a $155.00 price target on shares of NetApp in a report on Monday, August 26th. UBS Group increased their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Evercore ISI lifted their target price on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. One investment 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. According to data from MarketBeat, NetApp has an average rating of “Hold” and a consensus price target of $129.06.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp 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 in the company, valued at $1,475,782.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of the sale, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is currently 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.