Greenleaf Trust Purchases 396 Shares of NetApp, Inc. (NASDAQ:NTAP)

Greenleaf Trust boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,928 shares of the data storage provider’s stock after acquiring an additional 396 shares during the period. Greenleaf Trust’s holdings in NetApp were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NTAP. Acadian Asset Management LLC lifted its holdings in shares of NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares in the last quarter. Legal & General Group Plc raised its holdings in NetApp by 3.5% during the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after buying an additional 82,378 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of 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 buying an additional 450,263 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of NetApp by 11.9% during the first quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock valued at $208,133,000 after buying an additional 211,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of NetApp by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock worth $223,806,000 after acquiring an additional 196,952 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NTAP. Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Barclays upped their price target on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and raised their price objective for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective on shares of NetApp in a report on Monday, August 26th. Finally, Citigroup increased their target price on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $129.06.

Insider Activity

In related 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 value of $208,266.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were 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 approximately $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,890 shares of company stock valued at $1,369,172 over the last quarter. Company insiders own 0.47% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $119.41 on Friday. The business’s 50 day simple moving average is $123.37 and its 200 day simple moving average is $119.85. NetApp, Inc. has a 12 month low of $70.82 and a 12 month high of $135.01. The company has a market cap of $24.45 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 4.49 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last issued its earnings results 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 firm had revenue of $1.54 billion for 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 business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Sell-side analysts forecast that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The firm 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. The ex-dividend date was Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. NetApp’s payout ratio is 40.63%.

About NetApp

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.