6,267 Shares in NetApp, Inc. (NASDAQ:NTAP) Acquired by True North Advisors LLC

True North Advisors LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,267 shares of the data storage provider’s stock, valued at approximately $727,000.

Other hedge funds also recently modified their holdings of the company. Profund Advisors LLC boosted its holdings in shares of NetApp by 6.8% during the second quarter. Profund Advisors LLC now owns 4,247 shares of the data storage provider’s stock worth $547,000 after purchasing an additional 271 shares during the period. ProShare Advisors LLC grew its holdings in shares of NetApp by 6.5% during the 2nd quarter. ProShare Advisors LLC now owns 38,431 shares of the data storage provider’s stock valued at $4,950,000 after acquiring an additional 2,349 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of NetApp by 112.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,347 shares of the data storage provider’s stock worth $171,000 after acquiring an additional 713 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of NetApp by 57.4% in the second quarter. Public Sector Pension Investment Board now owns 7,897 shares of the data storage provider’s stock worth $1,017,000 after acquiring an additional 2,879 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of NetApp by 18.4% during the second quarter. Bank of Montreal Can now owns 344,820 shares of the data storage provider’s stock worth $44,309,000 after acquiring an additional 53,647 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the transaction, the executive vice president now owns 12,005 shares in the company, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,110 shares of company stock valued at $5,077,596 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

NetApp Stock Up 1.9 %

Shares of NTAP stock opened at $126.05 on Thursday. NetApp, Inc. has a 12 month low of $83.80 and a 12 month high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $25.63 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23. The stock has a 50 day moving average of $120.94 and a 200-day moving average of $122.67.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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 net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $1.23 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.65%. NetApp’s dividend payout ratio is 38.24%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays upped their target price on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Oppenheimer initiated coverage on shares of NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Stifel Nicolaus increased their price target on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $139.20.

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.