Bleakley Financial Group LLC Sells 100 Shares of NetApp, Inc. (NASDAQ:NTAP)

Bleakley Financial Group LLC trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,545 shares of the data storage provider’s stock after selling 100 shares during the quarter. Bleakley Financial Group LLC’s holdings in NetApp were worth $876,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in shares of NetApp in the 3rd quarter valued at $27,000. True Wealth Design LLC lifted its position in shares of NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after buying an additional 340 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of NetApp in the third quarter worth about $44,000. Ashton Thomas Securities LLC bought a new stake in shares of NetApp during the 3rd quarter worth about $51,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of NetApp during the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In related news, Director Thomas Michael Nevens sold 3,333 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.23, for a total transaction of $397,393.59. Following the completion of the sale, the director now directly owns 9,277 shares of the company’s stock, valued at $1,106,096.71. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 64,110 shares of company stock valued at $7,632,601. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com upgraded NetApp from a “hold” rating to a “buy” rating in a report on Tuesday, January 28th. Northland Securities upped their price objective 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. Bank of America lifted their target price on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday, November 22nd. TD Cowen boosted their target price on shares of NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.20.

NetApp Price Performance

NASDAQ:NTAP opened at $122.91 on Monday. The company has a market capitalization of $24.99 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.94 and a beta of 1.23. The company has a 50-day moving average of $120.99 and a 200-day moving average of $122.07. NetApp, Inc. has a 52 week low of $83.80 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share 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 company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.69%. NetApp’s dividend payout ratio is currently 38.24%.

About NetApp

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.