Valeo Financial Advisors LLC Buys Shares of 4,420 NetApp, Inc. $NTAP

Valeo Financial Advisors LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,420 shares of the data storage provider’s stock, valued at approximately $471,000.

Several other institutional investors have also recently bought and sold shares of NTAP. Wedmont Private Capital lifted its stake in NetApp by 16.0% in the 1st quarter. Wedmont Private Capital now owns 4,361 shares of the data storage provider’s stock valued at $360,000 after acquiring an additional 603 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of NetApp by 46.5% during the 1st quarter. Park Avenue Securities LLC now owns 19,286 shares of the data storage provider’s stock worth $1,694,000 after purchasing an additional 6,118 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of NetApp by 62.8% during the 1st quarter. Farther Finance Advisors LLC now owns 1,141 shares of the data storage provider’s stock worth $102,000 after purchasing an additional 440 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of NetApp by 78.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,444 shares of the data storage provider’s stock worth $390,000 after purchasing an additional 1,959 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of NetApp by 310.3% during the 1st quarter. SG Americas Securities LLC now owns 24,771 shares of the data storage provider’s stock worth $2,176,000 after purchasing an additional 18,733 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,750 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the transaction, the executive vice president owned 23,628 shares of the company’s stock, valued at $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,529 shares of company stock valued at $3,243,874 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

NetApp Stock Performance

NASDAQ:NTAP opened at $121.82 on Thursday. The stock’s 50-day simple moving average is $115.22 and its 200 day simple moving average is $103.24. The firm has a market capitalization of $24.32 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.56 and a beta of 1.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.7%. NetApp’s dividend payout ratio (DPR) is 36.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTAP shares. Bank of America upped their price objective on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Northland Securities upped their price objective on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday. Morgan Stanley set a $117.00 price target on NetApp in a research note on Thursday, August 28th. Finally, Barclays increased their price target on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $124.07.

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.