NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,206 shares of the data storage provider’s stock after purchasing an additional 487 shares during the quarter. Raymond James Trust N.A.’s holdings in NetApp were worth $519,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in NetApp by 17.5% during the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NetApp by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after buying an additional 82,378 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of NetApp by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock valued at $223,806,000 after buying an additional 196,952 shares in the last quarter. AQR Capital Management LLC grew its stake in NetApp by 59.6% in the 2nd 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 period. Finally, Boston Partners raised its position in NetApp by 3.1% during the first quarter. Boston Partners now owns 1,361,262 shares of the data storage provider’s stock worth $142,879,000 after acquiring an additional 41,011 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,049 shares of company stock valued at $2,807,851 in the last quarter. Insiders own 0.47% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $129.60 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a market cap of $26.54 billion, a P/E ratio of 23.82, a PEG ratio of 3.15 and a beta of 1.24. The company has a 50-day moving average price of $122.25 and a 200 day moving average price of $122.96. NetApp, Inc. has a 12-month low of $77.56 and a 12-month high of $135.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $1.23 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.52 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.60%. NetApp’s dividend payout ratio is currently 38.24%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTAP. Stifel Nicolaus lifted their target price on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Barclays lifted their price objective on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Oppenheimer initiated coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company increased their price objective on NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $134.00.

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.