True Wealth Design LLC Buys 340 Shares of NetApp, Inc. (NASDAQ:NTAP)

True Wealth Design LLC increased its position in NetApp, Inc. (NASDAQ:NTAP) by 2,833.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 352 shares of the data storage provider’s stock after purchasing an additional 340 shares during the quarter. True Wealth Design LLC’s holdings in NetApp were worth $43,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of NetApp by 11.8% in the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after purchasing an additional 83 shares in the last quarter. Aviso Wealth Management raised its stake in NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after buying an additional 83 shares in the last quarter. Waldron Private Wealth LLC lifted its holdings in NetApp by 4.3% during the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after buying an additional 92 shares during the period. Quarry LP lifted its holdings in NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after buying an additional 92 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its position in NetApp by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock valued at $2,437,000 after acquiring an additional 95 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Up 0.2 %

Shares of NASDAQ:NTAP opened at $122.64 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 52-week low of $83.62 and a 52-week high of $135.45. The stock has a market cap of $24.93 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.94 and a beta of 1.24. The business has a 50-day moving average price of $122.37 and a 200-day moving average price of $123.24.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Equities analysts predict that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $118.00, for a total transaction 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. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

NTAP has been the subject of a number of analyst reports. Susquehanna restated a “positive” rating and set a $155.00 price objective on shares of NetApp in a research note on Monday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a report on Friday, November 22nd. Northland Securities boosted their price objective on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Finally, UBS Group increased their target price on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and an average price target of $137.40.

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.