NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Inscription Capital LLC

Inscription Capital LLC boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 22.6% in the third quarter, HoldingsChannel.com reports. The firm owned 2,523 shares of the data storage provider’s stock after acquiring an additional 465 shares during the period. Inscription Capital LLC’s holdings in NetApp were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new position in NetApp during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in NetApp in the 3rd quarter worth approximately $27,000. Redwood Wealth Management Group LLC acquired a new stake in NetApp in the 2nd quarter valued at approximately $32,000. J.Safra Asset Management Corp raised its stake in NetApp by 706.3% during the 1st quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 226 shares in the last quarter. Finally, New Covenant Trust Company N.A. bought a new position in shares of NetApp in the first quarter worth $28,000. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Elizabeth M. O’callahan sold 705 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 of the company’s stock, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,890 shares of company stock worth $1,369,172. 0.47% of the stock is owned by company insiders.

NetApp Stock Performance

Shares of NTAP opened at $120.41 on Tuesday. The company has a 50-day moving average of $122.92 and a two-hundred day moving average of $120.29. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 4.48 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. NetApp, Inc. has a one year low of $70.82 and a one year high of $135.01.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.73%. NetApp’s dividend payout ratio (DPR) is presently 40.63%.

Analysts Set New Price Targets

NTAP has been the subject of several research analyst reports. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $121.00 to $150.00 in a report on Tuesday, September 3rd. Evercore ISI boosted their target price on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. Stifel Nicolaus increased their price target on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. UBS Group boosted their price objective on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Barclays upped their price objective on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, NetApp has a consensus rating of “Hold” and an average price target of $129.06.

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.