20,257 Shares in NetApp Inc. (NASDAQ:NTAP) Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC bought a new position in shares of NetApp Inc. (NASDAQ:NTAP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,257 shares of the data storage provider’s stock, valued at approximately $1,200,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of NetApp by 24.3% during the 1st quarter. FMR LLC now owns 1,699,118 shares of the data storage provider’s stock worth $117,816,000 after acquiring an additional 332,665 shares in the last quarter. Marshall Wace North America L.P. grew its stake in shares of NetApp by 629.5% during the 1st quarter. Marshall Wace North America L.P. now owns 119,994 shares of the data storage provider’s stock worth $8,321,000 after acquiring an additional 103,545 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of NetApp by 6,974.9% during the 1st quarter. Teacher Retirement System of Texas now owns 251,511 shares of the data storage provider’s stock worth $17,440,000 after acquiring an additional 247,956 shares in the last quarter. MML Investors Services LLC grew its stake in shares of NetApp by 16.4% during the 1st quarter. MML Investors Services LLC now owns 11,271 shares of the data storage provider’s stock worth $782,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Argent Capital Management LLC grew its stake in shares of NetApp by 33.2% during the 1st quarter. Argent Capital Management LLC now owns 18,459 shares of the data storage provider’s stock worth $1,280,000 after acquiring an additional 4,603 shares in the last quarter. 96.66% of the stock is owned by institutional investors and hedge funds.

In other NetApp news, SVP Matthew K. Fawcett sold 11,195 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $58.76, for a total transaction of $657,818.20. Following the completion of the sale, the senior vice president now owns 76,722 shares of the company’s stock, valued at approximately $4,508,184.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew K. Fawcett sold 38,195 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $61.55, for a total value of $2,350,902.25. Following the sale, the senior vice president now directly owns 38,527 shares of the company’s stock, valued at approximately $2,371,336.85. The disclosure for this sale can be found here. Insiders sold 161,092 shares of company stock valued at $9,676,120 over the last three months. 0.33% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on NTAP shares. Barclays reaffirmed an “equal weight” rating and set a $48.00 price target (up from $47.00) on shares of NetApp in a research note on Thursday. Cowen reaffirmed an “underperform” rating and set a $40.00 price target (down from $53.00) on shares of NetApp in a research note on Thursday. Morgan Stanley reaffirmed a “sell” rating and set a $41.00 price target on shares of NetApp in a research note on Sunday, August 11th. Summit Insights cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine cut shares of NetApp from a “hold” rating to a “sell” rating in a research note on Monday, June 3rd. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. NetApp currently has a consensus rating of “Hold” and a consensus target price of $59.45.

Shares of NASDAQ:NTAP traded up $0.12 during midday trading on Friday, hitting $46.59. The stock had a trading volume of 99,852 shares, compared to its average volume of 3,145,841. NetApp Inc. has a 12 month low of $44.55 and a 12 month high of $88.08. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 1.05. The business’s 50-day simple moving average is $56.40 and its 200-day simple moving average is $64.33. The company has a market cap of $11.23 billion, a P/E ratio of 11.59, a PEG ratio of 0.96 and a beta of 1.48.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 14th. The data storage provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.19. NetApp had a net margin of 19.02% and a return on equity of 71.66%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business earned $1.04 earnings per share. The firm’s revenue was down 16.1% on a year-over-year basis. As a group, equities analysts predict that NetApp Inc. will post 3.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a $0.48 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.92 annualized dividend and a dividend yield of 4.12%. NetApp’s dividend payout ratio is presently 47.76%.

NetApp Profile

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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