SeaCrest Wealth Management LLC Buys New Stake in NetApp, Inc. (NASDAQ:NTAP)

SeaCrest Wealth Management LLC purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,812 shares of the data storage provider’s stock, valued at approximately $718,000.

Several other large investors also recently bought and sold shares of NTAP. Acadian Asset Management LLC grew its stake in NetApp by 48.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,375,366 shares of the data storage provider’s stock worth $249,307,000 after buying an additional 773,773 shares during the last quarter. AQR Capital Management LLC grew its position in shares of NetApp by 59.6% during the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after acquiring an additional 613,583 shares during the last quarter. TD Asset Management Inc grew its position in shares of NetApp by 26.5% during the first quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after acquiring an additional 450,263 shares during the last quarter. TCW Group Inc. acquired a new position in shares of NetApp in the 2nd quarter valued at $56,313,000. Finally, APG Asset Management US Inc. purchased a new stake in NetApp in the 2nd quarter valued at $48,074,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NTAP shares. Evercore ISI lifted their price objective on shares of NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Susquehanna restated a “positive” rating and issued a $155.00 price target on shares of NetApp in a research report on Monday, August 26th. Bank of America increased their price objective on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Citigroup boosted their target price on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Barclays upped their price target on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $129.06.

NetApp Trading Up 0.4 %

NASDAQ:NTAP opened at $125.88 on Thursday. NetApp, Inc. has a 52-week low of $70.82 and a 52-week high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $123.61 and a 200-day simple moving average of $119.21. The company has a market capitalization of $25.91 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 4.77 and a beta of 1.23.

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

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, October 4th. NetApp’s dividend payout ratio (DPR) is presently 44.83%.

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.