NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,923 shares of the data storage provider’s stock after acquiring an additional 405 shares during the quarter. Daymark Wealth Partners LLC’s holdings in NetApp were worth $2,081,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of NetApp in the third quarter valued at about $27,000. True Wealth Design LLC grew its stake in shares of NetApp by 2,833.3% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after buying an additional 340 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of NetApp during the 3rd quarter worth approximately $44,000. Hershey Financial Advisers LLC purchased a new stake in shares of NetApp during the 2nd quarter valued at approximately $45,000. Finally, Ashton Thomas Securities LLC acquired a new position in NetApp in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $126.05 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market cap of $25.63 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23. The stock’s 50-day moving average is $120.94 and its two-hundred day moving average is $122.67. NetApp, Inc. has a 1-year low of $83.80 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $1.23 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.65%. NetApp’s payout ratio is currently 38.24%.

Analysts Set New Price Targets

NTAP has been the subject of several recent analyst reports. TD Cowen lifted their target price on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Barclays raised their price objective on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price on the stock in a research report on Monday, December 16th. Bank of America lifted their price target on shares of NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price objective on shares of NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.20.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now owns 279,782 shares in the company, valued at approximately $34,774,104.78. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,110 shares of company stock valued at $5,077,596 over the last quarter. 0.47% of the stock is owned by insiders.

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.