Private Client Services LLC Has $1.18 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Private Client Services LLC cut its position in NetApp, Inc. (NASDAQ:NTAP) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,151 shares of the data storage provider’s stock after selling 3,401 shares during the period. Private Client Services LLC’s holdings in NetApp were worth $1,178,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aviso Wealth Management increased its position in shares of NetApp by 1.4% during the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after acquiring an additional 83 shares in the last quarter. Quarry LP increased its holdings in NetApp by 11.7% during the 2nd 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. Elo Mutual Pension Insurance Co raised its stake in shares of NetApp by 0.5% in 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. OLD National Bancorp IN lifted its holdings in shares of NetApp by 3.5% in the third quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock valued at $431,000 after purchasing an additional 118 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of NetApp by 4.5% during the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock worth $340,000 after buying an additional 118 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTAP. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price target on shares of NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Barclays raised their price objective on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. TD Cowen upped their target price on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Bank of America raised their price target on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and an average target price of $139.20.

NetApp Stock Performance

Shares of NASDAQ NTAP traded up $0.36 during mid-day trading on Wednesday, reaching $117.54. 421,362 shares of the company were exchanged, compared to its average volume of 1,102,012. The stock has a market capitalization of $23.90 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.92 and a beta of 1.23. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The company’s 50-day simple moving average is $120.97 and its 200-day simple moving average is $123.36. NetApp, Inc. has a twelve month low of $83.80 and a twelve month high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that NetApp, Inc. will post 5.83 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s payout ratio is 38.24%.

Insider Transactions at NetApp

In other NetApp 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 transaction of $1,071,935.00. Following the sale, the chief executive officer now directly owns 292,778 shares in the company, valued at $36,922,233.58. This represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the president now owns 27,099 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 51,864 shares of company stock valued at $6,185,830. 0.47% of the stock is currently owned by corporate insiders.

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.