Measured Wealth Private Client Group LLC Increases Stake in NetApp, Inc. (NASDAQ:NTAP)

Measured Wealth Private Client Group LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 59.9% during the fourth quarter, HoldingsChannel reports. The fund owned 5,752 shares of the data storage provider’s stock after buying an additional 2,155 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in NetApp were worth $668,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in shares of NetApp by 8.9% in the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock valued at $37,301,000 after purchasing an additional 24,651 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in NetApp by 20.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock valued at $5,225,000 after buying an additional 7,318 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after buying an additional 113,360 shares during the period. Hilton Capital Management LLC purchased a new stake in shares of NetApp in the third quarter worth about $4,059,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of NetApp by 232.2% in the third quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after acquiring an additional 4,705 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the sale, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,110 shares of company stock worth $7,632,601. Insiders own 0.47% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $124.04 on Friday. The firm has a market cap of $25.22 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.90 and a beta of 1.23. The firm’s fifty day moving average is $120.95 and its 200 day moving average is $122.14. 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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter 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. Research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. TD Cowen lifted their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. StockNews.com upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. Finally, Bank of America lifted their price target on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $139.20.

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.