LSV Asset Management Has $55.31 Million Stock Position in NetApp, Inc. (NASDAQ:NTAP)

LSV Asset Management increased its holdings in NetApp, Inc. (NASDAQ:NTAP) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 627,383 shares of the data storage provider’s stock after acquiring an additional 9,912 shares during the period. LSV Asset Management owned about 0.30% of NetApp worth $55,310,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. ORG Partners LLC lifted its position in shares of NetApp by 14,650.0% during the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 293 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of NetApp during the 3rd quarter worth approximately $27,000. First Horizon Advisors Inc. boosted its stake in shares of NetApp by 58.7% in the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 150 shares in the last quarter. Finally, Planned Solutions Inc. purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $34,000. Institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Elizabeth M. O’callahan sold 871 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at $989,095.02. 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 firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at $26,068,738.32. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock valued at $4,139,505 over the last 90 days. 0.37% of the stock is owned by insiders.

NetApp Price Performance

Shares of NTAP stock traded up $2.52 during trading hours on Friday, reaching $104.64. The stock had a trading volume of 2,463,599 shares, compared to its average volume of 1,409,802. The stock’s fifty day simple moving average is $101.88 and its 200 day simple moving average is $90.19. The firm has a market capitalization of $21.60 billion, a PE ratio of 23.78, a PEG ratio of 2.18 and a beta of 1.27. NetApp, Inc. has a 12 month low of $61.54 and a 12 month high of $112.48. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00.

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

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.91%. NetApp’s dividend payout ratio (DPR) is presently 45.45%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several research analyst reports. Argus raised NetApp from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Monday, March 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 target price (up from $105.00) on shares of NetApp in a research note on Friday, March 1st. Barclays raised their price target on shares of NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Evercore ISI upped their price objective on NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. Finally, TD Cowen increased their price objective on NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $100.60.

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.