Charles Schwab Investment Management Inc. Raises Stake in NetApp, Inc. (NASDAQ:NTAP)

Charles Schwab Investment Management Inc. boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,808,051 shares of the data storage provider’s stock after purchasing an additional 24,416 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.88% of NetApp worth $159,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ORG Partners LLC increased its position in NetApp by 14,650.0% during the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after buying an additional 293 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of NetApp in the third quarter worth $27,000. First Horizon Advisors Inc. increased its holdings in shares of NetApp by 58.7% during the fourth quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 115 shares in the last quarter. UMB Bank n.a. raised its position in shares of NetApp by 82.9% in the 4th 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 during the last quarter. Finally, Planned Solutions Inc. purchased a new stake in NetApp during the 4th quarter valued at about $34,000. Institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NTAP shares. Evercore ISI upped their target price on shares of NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. TD Cowen increased their target price on NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Barclays boosted their price target on NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. StockNews.com cut NetApp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, UBS Group upped their target price on shares of NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.60.

Insider Activity

In other NetApp news, CFO Michael J. Berry sold 15,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.67, for a total transaction of $1,540,050.00. Following the completion of the transaction, the chief financial officer now owns 144,909 shares of the company’s stock, valued at approximately $14,877,807.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Michael J. Berry sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $102.67, for a total transaction of $1,540,050.00. Following the completion of the transaction, the chief financial officer now directly owns 144,909 shares in the company, valued at approximately $14,877,807.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now owns 9,601 shares in the company, valued at approximately $989,095.02. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock worth $4,139,505 over the last quarter. Insiders own 0.37% of the company’s stock.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $108.18 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. NetApp, Inc. has a 1 year low of $62.29 and a 1 year high of $112.48. The firm has a fifty day moving average price of $103.50 and a 200-day moving average price of $91.10. The stock has a market cap of $22.33 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.18 and a beta of 1.27.

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

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 45.45%.

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.