Atria Wealth Solutions Inc. Buys 937 Shares of NetApp, Inc. (NASDAQ:NTAP)

Atria Wealth Solutions Inc. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.4% in the fourth quarter, Holdings Channel reports. The firm owned 10,918 shares of the data storage provider’s stock after buying an additional 937 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in NetApp were worth $1,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NTAP. Intech Investment Management LLC boosted its stake in NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after acquiring an additional 24,651 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in NetApp by 20.9% in the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after purchasing an additional 7,318 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after purchasing an additional 113,360 shares in the last quarter. Hilton Capital Management LLC acquired a new position in shares of NetApp in the 3rd quarter valued at $4,059,000. Finally, Orion Portfolio Solutions LLC increased its position in shares of NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after buying an additional 4,705 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NTAP shares. Oppenheimer began coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Wedbush reiterated a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research report on Friday, November 22nd. Stifel Nicolaus raised their target price on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Morgan Stanley raised their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus price target of $137.33.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $124.47 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The business has a 50-day moving average of $120.12 and a 200-day moving average of $122.00. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a fifty-two week low of $85.28 and a fifty-two week high of $135.45.

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

Insider Activity

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares in the company, valued at $34,774,104.78. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were 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 approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,903 shares of company stock valued at $7,260,341. 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.