Summit Trail Advisors LLC Has $492,000 Stake in NetApp, Inc. (NASDAQ:NTAP)

Summit Trail Advisors LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 19.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,986 shares of the data storage provider’s stock after buying an additional 654 shares during the quarter. Summit Trail Advisors LLC’s holdings in NetApp were worth $492,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC raised its position in 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 valued at $359,517,000 after purchasing an additional 416,233 shares during the last quarter. Legal & General Group Plc raised its position in NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after purchasing an additional 82,378 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NetApp by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock valued at $223,806,000 after purchasing an additional 196,952 shares during the last quarter. AQR Capital Management LLC raised its position in NetApp by 59.6% in 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 purchasing an additional 613,583 shares during the last quarter. Finally, Boston Partners raised its position in NetApp by 3.1% in the 1st quarter. Boston Partners now owns 1,361,262 shares of the data storage provider’s stock valued at $142,879,000 after purchasing an additional 41,011 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Up 2.7 %

NASDAQ NTAP opened at $129.60 on Wednesday. The stock has a 50-day simple moving average of $122.25 and a 200 day simple moving average of $122.96. The company has a market capitalization of $26.54 billion, a PE ratio of 23.82, a P/E/G ratio of 3.15 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12 month low of $77.56 and a 12 month high of $135.45.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Research 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 will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.60%. NetApp’s payout ratio is 38.24%.

Analyst Ratings Changes

Several brokerages have issued reports on NTAP. JPMorgan Chase & Co. lifted their price objective on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Susquehanna restated a “positive” rating and set a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. Finally, Barclays boosted their target price on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, NetApp has an average rating of “Hold” and a consensus target price of $134.00.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 288,282 shares in the company, valued at approximately $34,017,276. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. The trade was a 5.69 % 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. Company insiders own 0.47% 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.