Integrated Advisors Network LLC Decreases Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Integrated Advisors Network LLC lessened its stake in NetApp, Inc. (NASDAQ:NTAP) by 89.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,182 shares of the data storage provider’s stock after selling 36,802 shares during the quarter. Integrated Advisors Network LLC’s holdings in NetApp were worth $517,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in shares of NetApp during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in NetApp in the 3rd quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new stake in NetApp during the 2nd quarter worth approximately $32,000. J.Safra Asset Management Corp lifted its position in shares of NetApp by 706.3% in the first quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 226 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of NetApp in the first quarter worth approximately $28,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 2.9 %

Shares of NTAP opened at $115.31 on Friday. The company’s 50-day moving average price is $122.10 and its 200 day moving average price is $120.38. NetApp, Inc. has a 12-month low of $71.18 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 has a market cap of $23.61 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 4.48 and a beta of 1.23.

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

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, October 4th. NetApp’s payout ratio is 40.63%.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock worth $1,369,172 in the last three months. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on NTAP shares. Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. Susquehanna restated a “positive” rating and set a $155.00 price target on shares of NetApp in a research report on Monday, August 26th. Citigroup upped their price objective on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Stifel Nicolaus raised their target price on shares of NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays upped their price target 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 given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and an average price target of $129.06.

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.