2,525 Shares in NetApp, Inc. (NASDAQ:NTAP) Acquired by Trust Asset Management LLC

Trust Asset Management LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,525 shares of the data storage provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTAP. ORG Partners LLC increased its holdings in shares of NetApp by 14,650.0% in the fourth 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. UMB Bank n.a. grew its position in NetApp by 82.9% during 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 in the last quarter. Larson Financial Group LLC purchased a new position in NetApp during the 3rd quarter worth approximately $27,000. Planned Solutions Inc. purchased a new position in NetApp during the 4th quarter worth approximately $34,000. Finally, First Pacific Financial purchased a new position in NetApp during the 3rd quarter worth approximately $29,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.9 %

NTAP stock traded up $0.88 during midday trading on Thursday, hitting $100.94. The company’s stock had a trading volume of 1,581,250 shares, compared to its average volume of 1,867,574. 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 twelve month low of $60.92 and a twelve month high of $112.48. The company’s fifty day moving average price is $99.90 and its 200 day moving average price is $89.10. The stock has a market capitalization of $20.83 billion, a P/E ratio of 22.94, a PEG ratio of 2.19 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.25. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. NetApp’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. As a group, equities research analysts predict that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s dividend payout ratio is currently 45.45%.

Insider Buying and Selling at NetApp

In other NetApp news, CFO Michael J. Berry sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.67, for a total value of $1,540,050.00. Following the completion of the sale, 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 is accessible through the SEC website. In other news, CFO Michael J. Berry sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 144,909 shares of the company’s stock, valued at approximately $14,877,807.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $103.16, for a total transaction of $876,860.00. Following the sale, the chief executive officer now directly owns 252,702 shares of the company’s stock, valued at approximately $26,068,738.32. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock valued at $4,139,505 in the last quarter. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NTAP shares. JPMorgan Chase & Co. lifted their price objective on shares of NetApp from $87.00 to $95.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Argus upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Monday, March 4th. TD Cowen boosted their price target on shares of NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Raymond James restated a “market perform” rating on shares of NetApp in a report on Tuesday, January 16th. Finally, Barclays boosted their price target on shares of NetApp from $80.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average price target of $100.60.

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.