Hollencrest Capital Management Purchases 330 Shares of NetApp, Inc. (NASDAQ:NTAP)

Hollencrest Capital Management raised its position in NetApp, Inc. (NASDAQ:NTAP) by 165.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530 shares of the data storage provider’s stock after buying an additional 330 shares during the quarter. Hollencrest Capital Management’s holdings in NetApp were worth $65,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of NetApp in the third quarter valued at about $27,000. Redwood Wealth Management Group LLC acquired a new position in shares of NetApp during the 2nd quarter worth approximately $32,000. J.Safra Asset Management Corp increased its holdings in shares of 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 period. New Covenant Trust Company N.A. acquired a new stake in shares of NetApp in the first quarter valued at approximately $28,000. Finally, Crewe Advisors LLC bought a new stake in shares of NetApp in the first quarter valued at approximately $35,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on NTAP shares. Stifel Nicolaus raised their price objective on NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Bank of America upped their price objective on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Citigroup raised their target price on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Barclays upped their price target on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective 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. 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. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $129.06.

NetApp Stock Performance

NetApp stock opened at $124.01 on Friday. The business has a 50 day moving average of $121.01 and a 200-day moving average of $121.17. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. NetApp, Inc. has a 1 year low of $75.32 and a 1 year high of $135.01. The company has a market capitalization of $25.39 billion, a P/E ratio of 24.22, a P/E/G ratio of 4.55 and a beta of 1.24.

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

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. NetApp’s dividend payout ratio (DPR) is 40.63%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the 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 approximately $1,475,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at $36,922,233.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,890 shares of company stock valued at $1,369,172 over the last ninety days. 0.47% of the stock is owned by company insiders.

NetApp 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.