Legacy Capital Group California Inc. Sells 110 Shares of NetApp, Inc. (NASDAQ:NTAP)

Legacy Capital Group California Inc. trimmed its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,730 shares of the data storage provider’s stock after selling 110 shares during the quarter. Legacy Capital Group California Inc.’s holdings in NetApp were worth $461,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group lifted their target price on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and set a $155.00 price target on shares of NetApp in a research report on Monday, August 26th. Citigroup boosted their price target on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Bank of America raised their price objective on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Barclays upped their target price on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $129.06.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction dated 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 $1,475,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Lorenzo Daniel De sold 1,685 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is owned by corporate insiders.

NetApp Trading Down 0.4 %

NTAP stock opened at $119.41 on Friday. NetApp, Inc. has a 52-week low of $70.82 and a 52-week high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The firm has a market cap of $24.45 billion, a P/E ratio of 23.32, a PEG ratio of 4.49 and a beta of 1.23. The company’s 50-day simple moving average is $123.37 and its 200-day simple moving average is $119.85.

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

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. 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.