Banque Cantonale Vaudoise Grows Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Banque Cantonale Vaudoise increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 186.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,335 shares of the data storage provider’s stock after purchasing an additional 16,487 shares during the quarter. Banque Cantonale Vaudoise’s holdings in NetApp were worth $3,129,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in shares of NetApp in the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in shares of NetApp during the 3rd quarter valued at about $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of NetApp during the 1st quarter valued at about $28,000. Redwood Wealth Management Group LLC bought a new position in shares of NetApp in the 2nd quarter worth approximately $32,000. Finally, Crewe Advisors LLC bought a new position in shares of NetApp in the 1st quarter worth approximately $35,000. Institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NTAP shares. UBS Group upped their target price on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Bank of America raised their target price on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and boosted their price target for the company from $121.00 to $150.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Evercore ISI boosted their price objective on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and an average price target of $129.06.

Insider Activity

In other NetApp news, 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 in the company, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,716 shares of company stock valued at $2,410,457. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Up 2.4 %

Shares of NASDAQ NTAP opened at $122.20 on Wednesday. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 3.01 and a beta of 1.24. NetApp, Inc. has a 12-month low of $77.08 and a 12-month high of $135.01. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average price is $121.41 and its 200-day moving average price is $122.35.

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, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. On average, equities research analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio is currently 40.63%.

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.