NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Paradiem LLC

Paradiem LLC lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,026 shares of the data storage provider’s stock after purchasing an additional 1,063 shares during the quarter. NetApp comprises about 3.1% of Paradiem LLC’s investment portfolio, making the stock its 17th biggest position. Paradiem LLC’s holdings in NetApp were worth $11,495,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Aviso Wealth Management boosted its holdings in shares of NetApp by 1.4% during the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after purchasing an additional 83 shares during the last quarter. Quarry LP boosted its holdings in NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after acquiring an additional 92 shares during the last quarter. OLD National Bancorp IN boosted its holdings in NetApp by 3.5% in the third quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock valued at $431,000 after acquiring an additional 118 shares during the last quarter. Ballentine Partners LLC boosted its holdings in NetApp by 4.5% in the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after acquiring an additional 118 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in NetApp by 2.4% in the third quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider’s stock valued at $631,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Up 1.9 %

Shares of NASDAQ NTAP opened at $126.05 on Thursday. NetApp, Inc. has a 1 year low of $83.80 and a 1 year high of $135.45. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.93 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock’s 50-day simple moving average is $120.94 and its 200-day simple moving average is $122.67.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, equities analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $118.00, for a total value of $1,003,000.00. Following the completion of the transaction, the chief executive officer now owns 288,282 shares of the company’s stock, valued at approximately $34,017,276. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,110 shares of company stock valued at $5,077,596 over the last three months. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of research analyst reports. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. upgraded NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a report on Monday, December 16th. Wedbush reiterated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. Oppenheimer assumed coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley raised their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. One 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’s stock. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $139.20.

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.