Private Client Services LLC Has $1.18 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Private Client Services LLC decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.1% in the 4th quarter, Holdings Channel reports. The fund owned 10,151 shares of the data storage provider’s stock after selling 3,401 shares during the period. Private Client Services LLC’s holdings in NetApp were worth $1,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NTAP. Aviso Wealth Management increased its position in NetApp by 1.4% during the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after purchasing an additional 83 shares in the last quarter. Quarry LP grew its stake in shares of NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after buying an additional 92 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of NetApp by 0.5% during the second 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 in the last quarter. OLD National Bancorp IN lifted its stake in shares of NetApp by 3.5% in the 3rd quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock valued at $431,000 after acquiring an additional 118 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of NetApp by 4.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Up 0.3 %

NASDAQ NTAP traded up $0.36 during trading hours on Wednesday, hitting $117.54. 421,362 shares of the company’s stock were exchanged, compared to its average volume of 1,102,012. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.92 and a beta of 1.23. The stock has a 50-day simple moving average of $120.97 and a 200 day simple moving average of $123.36. 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 1-year low of $83.80 and a 1-year high of $135.45.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. On average, equities analysts forecast that NetApp, Inc. will post 5.83 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared 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. This represents a $2.08 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

Analyst Upgrades and Downgrades

NTAP has been the subject of several research reports. Wedbush reiterated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. TD Cowen raised their price objective on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Northland Securities boosted their target price on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Citigroup raised their price target on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Oppenheimer initiated coverage on shares of NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.20.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,864 shares of company stock worth $6,185,830. Company insiders own 0.47% of the company’s stock.

NetApp Company 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.