Cwm LLC Has $1.32 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Cwm LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,718 shares of the data storage provider’s stock after purchasing an additional 965 shares during the period. Cwm LLC’s holdings in NetApp were worth $1,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in NetApp by 48.3% during the first quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider’s stock worth $249,307,000 after buying an additional 773,773 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock valued at $211,637,000 after acquiring an additional 613,583 shares in the last quarter. TD Asset Management Inc increased its stake in NetApp by 26.5% in the first quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock valued at $225,532,000 after acquiring an additional 450,263 shares during the period. TCW Group Inc. acquired a new position in NetApp in the second quarter worth about $56,313,000. Finally, APG Asset Management US Inc. acquired a new position in NetApp in the second quarter worth about $48,074,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NTAP. Evercore ISI lifted their price objective on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a report on Monday, August 12th. Susquehanna reaffirmed a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. Stifel Nicolaus increased their price objective on NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Citigroup upped their target price on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $129.06.

NetApp Price Performance

Shares of NTAP stock opened at $125.88 on Thursday. NetApp, Inc. has a 1 year low of $70.82 and a 1 year 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 is $123.61 and its 200-day moving average is $119.21. The firm has a market capitalization of $25.91 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 4.77 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. NetApp’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Sell-side analysts forecast that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.65%. The ex-dividend date is Friday, October 4th. NetApp’s dividend payout ratio is 44.83%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s 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. Corporate insiders own 0.37% of the company’s stock.

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.