Mission Wealth Management LP Has $321,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Mission Wealth Management LP lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,639 shares of the data storage provider’s stock after buying an additional 115 shares during the quarter. Mission Wealth Management LP’s holdings in NetApp were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new position in NetApp during the 4th quarter valued at $74,257,000. Qube Research & Technologies Ltd increased its stake in NetApp by 689.7% in the third quarter. Qube Research & Technologies Ltd now owns 804,237 shares of the data storage provider’s stock valued at $61,026,000 after acquiring an additional 702,391 shares during the period. Panagora Asset Management Inc. raised its position in NetApp by 10,320.5% in the third quarter. Panagora Asset Management Inc. now owns 577,504 shares of the data storage provider’s stock worth $43,821,000 after purchasing an additional 571,962 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of NetApp by 31.7% during the third quarter. Royal Bank of Canada now owns 1,109,662 shares of the data storage provider’s stock worth $84,202,000 after purchasing an additional 266,812 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in shares of NetApp by 25.0% in the third quarter. Ariel Investments LLC now owns 899,155 shares of the data storage provider’s stock valued at $68,228,000 after buying an additional 179,684 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the transaction, the executive vice president now directly owns 9,601 shares in the company, valued at $989,095.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Michael J. Berry sold 7,500 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total transaction of $770,625.00. Following the sale, the chief financial officer now directly owns 152,409 shares of the company’s stock, valued at approximately $15,660,024.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The disclosure for this sale can be found here. Insiders sold a total of 40,371 shares of company stock worth $4,139,505 over the last quarter. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NTAP shares. Evercore ISI raised their price objective on shares of NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research report on Friday, March 1st. Raymond James reiterated a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. Wedbush boosted their target price on NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price objective (up from $105.00) on shares of NetApp in a research report on Friday, March 1st. Finally, Argus raised shares of NetApp from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.60.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $104.64 on Friday. The firm has a market cap of $21.60 billion, a PE ratio of 23.78, a PEG ratio of 2.13 and a beta of 1.27. The company has a fifty day moving average price of $101.53 and a 200 day moving average price of $89.99. NetApp, Inc. has a 1-year low of $61.54 and a 1-year high of $112.48. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.25. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Research analysts predict that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.91%. NetApp’s dividend payout ratio (DPR) is presently 45.45%.

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.