NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,216 shares of the data storage provider’s stock after buying an additional 1,087 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in NetApp were worth $1,606,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NTAP. ORG Partners LLC grew its stake in shares of NetApp by 14,650.0% in the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after acquiring an additional 293 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of NetApp during the third quarter worth $27,000. First Pacific Financial acquired a new position in shares of NetApp during the third quarter worth $29,000. UMB Bank n.a. grew its stake in shares of NetApp by 82.9% during the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 150 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of NetApp during the fourth quarter worth $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael J. Berry sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the sale, the chief financial officer now owns 152,409 shares in the company, valued at $15,660,024.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the transaction, the chief financial officer now owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $103.16, for a total transaction of $876,860.00. Following the transaction, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,371 shares of company stock worth $4,139,505. 0.37% of the stock is owned by insiders.

NetApp Price Performance

NTAP traded up $0.34 on Wednesday, hitting $99.76. 489,428 shares of the company were exchanged, compared to its average volume of 1,861,157. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. The business’s fifty day moving average is $99.38 and its 200 day moving average is $88.94. NetApp, Inc. has a fifty-two week low of $60.92 and a fifty-two week high of $112.48. The firm has a market capitalization of $20.59 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.16 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.25. The company 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.00%. NetApp’s dividend payout ratio (DPR) is currently 45.45%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of NetApp from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. TD Cowen boosted their price target on shares of NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Raymond James reissued a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. UBS Group boosted their price target on shares of NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.60.

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.