Capital Performance Advisors LLP Invests $44,000 in NetApp, Inc. (NASDAQ:NTAP)

Capital Performance Advisors LLP acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 353 shares of the data storage provider’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in shares of NetApp during the 2nd quarter valued at about $26,000. J.Safra Asset Management Corp lifted its position in NetApp by 706.3% during the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 226 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in NetApp during the third quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new position in NetApp in the 1st quarter worth approximately $28,000. Finally, Redwood Wealth Management Group LLC bought a new position in shares of NetApp in the 2nd quarter worth $32,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NTAP shares. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and upped their target price for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Barclays upped their price objective on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Wedbush reissued a “neutral” rating and set a $120.00 price objective on shares of NetApp in a report on Monday, August 26th. UBS Group upped their target price on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Bank of America increased their price target on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.06.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the transaction, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at $36,922,233.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was 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 SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the sale, the chief executive officer now directly owns 292,778 shares in the company, valued at approximately $36,922,233.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,890 shares of company stock valued at $1,369,172. Company insiders own 0.47% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $124.01 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $121.01 and a 200-day moving average price of $121.32. The company has a market cap of $25.39 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 4.65 and a beta of 1.24. NetApp, Inc. has a 12 month low of $75.32 and a 12 month high of $135.01.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping 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 business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted $0.84 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

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

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.