NetApp, Inc. (NASDAQ:NTAP) Position Lifted by V Square Quantitative Management LLC

V Square Quantitative Management LLC raised its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,108 shares of the data storage provider’s stock after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC’s holdings in NetApp were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Hollencrest Capital Management bought a new stake in NetApp in the second quarter valued at about $26,000. Redwood Wealth Management Group LLC acquired a new stake in shares of NetApp during the 2nd quarter valued at approximately $32,000. J.Safra Asset Management Corp lifted its stake in NetApp by 706.3% during the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 226 shares during the last quarter. Rise Advisors LLC bought a new stake in NetApp during the first quarter valued at $27,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of NetApp in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Lorenzo Daniel De sold 1,685 shares of the business’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 legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wedbush reissued a “neutral” rating and issued a $120.00 target price on shares of NetApp in a report on Monday, August 26th. JPMorgan Chase & Co. raised their price target on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays boosted their price objective on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Bank of America lifted their target price on NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Loop Capital raised NetApp from a “hold” rating to a “buy” rating and increased their price target for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, NetApp presently has a consensus rating of “Hold” and an average target price of $129.06.

NetApp Price Performance

NASDAQ NTAP opened at $126.53 on Friday. NetApp, Inc. has a 1 year low of $70.82 and a 1 year high of $135.01. The business’s fifty day moving average is $123.84 and its two-hundred day moving average is $119.41. The stock has a market capitalization of $26.04 billion, a P/E ratio of 27.27, a P/E/G ratio of 4.77 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96.

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

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, October 4th. NetApp’s dividend payout ratio (DPR) is 44.83%.

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.