Tobam Buys 221 Shares of NetApp, Inc. (NASDAQ:NTAP)

Tobam grew its position in NetApp, Inc. (NASDAQ:NTAP) by 38.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 797 shares of the data storage provider’s stock after buying an additional 221 shares during the period. Tobam’s holdings in NetApp were worth $98,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTAP. Los Angeles Capital Management LLC lifted its position in NetApp by 254.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,304,512 shares of the data storage provider’s stock valued at $241,905,000 after acquiring an additional 1,654,942 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of NetApp by 48.3% during the first quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider’s stock valued at $249,307,000 after buying an additional 773,773 shares during the last quarter. AQR Capital Management LLC increased its holdings 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 worth $211,637,000 after buying an additional 613,583 shares in the last quarter. TD Asset Management Inc raised its position in NetApp by 26.5% in the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after buying an additional 450,263 shares during the last quarter. Finally, TCW Group Inc. purchased a new position in NetApp in the 2nd quarter worth about $56,313,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NTAP opened at $124.98 on Friday. The company has a 50 day simple moving average of $122.82 and a two-hundred day simple moving average of $118.48. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The firm has a market cap of $25.59 billion, a P/E ratio of 24.41, a PEG ratio of 4.77 and a beta of 1.23. NetApp, Inc. has a 1-year low of $70.82 and a 1-year high of $135.01.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. Equities analysts forecast that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.66%. NetApp’s payout ratio is 40.63%.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $130.36, for a total transaction of $1,108,060.00. Following the completion of the transaction, the chief executive officer now owns 314,274 shares of the company’s stock, valued at $40,968,758.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $130.36, for a total transaction of $1,108,060.00. Following the transaction, the chief executive officer now owns 314,274 shares of the company’s stock, valued at $40,968,758.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on NTAP shares. Stifel Nicolaus raised their price target on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Citigroup boosted their target price on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Susquehanna restated a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. Finally, UBS Group lifted their price objective on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $129.06.

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.