Daymark Wealth Partners LLC Boosts Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Daymark Wealth Partners LLC raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,923 shares of the data storage provider’s stock after buying an additional 405 shares during the quarter. Daymark Wealth Partners LLC’s holdings in NetApp were worth $2,081,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its position in NetApp by 59.6% during the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NetApp by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after purchasing an additional 453,324 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of NetApp in the 2nd quarter worth $48,074,000. Robeco Institutional Asset Management B.V. grew its stake in NetApp by 38.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after buying an additional 342,415 shares during the last quarter. Finally, Unigestion Holding SA increased its position in NetApp by 926.1% during the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after buying an additional 256,028 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,110 shares of company stock worth $5,077,596 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $126.05 on Thursday. 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 stock has a market capitalization of $25.63 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.93 and a beta of 1.23. The firm’s 50 day simple moving average is $120.94 and its 200-day simple moving average is $122.67. NetApp, Inc. has a 12 month low of $83.80 and a 12 month high of $135.45.

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

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, January 3rd. NetApp’s payout ratio is currently 38.24%.

Analysts Set New Price Targets

NTAP has been the subject of several recent analyst reports. Barclays raised their price target on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Wedbush reissued a “neutral” rating and set a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Monday. Bank of America boosted their price objective on shares of NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. Finally, Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and an average target price of $139.20.

About NetApp

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.