Consilio Wealth Advisors LLC Makes New $802,000 Investment in NetApp, Inc. (NASDAQ:NTAP)

Consilio Wealth Advisors LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,125 shares of the data storage provider’s stock, valued at approximately $802,000.

Several other large investors have also modified their holdings of NTAP. Norges Bank acquired a new position in shares of NetApp in the 4th quarter valued at $306,440,000. Ameriprise Financial Inc. grew its holdings in NetApp by 14.5% during the 4th quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider’s stock worth $815,402,000 after acquiring an additional 888,671 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in NetApp by 5,858.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 895,435 shares of the data storage provider’s stock worth $103,942,000 after acquiring an additional 880,406 shares during the last quarter. Boston Partners grew its holdings in NetApp by 53.9% during the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider’s stock worth $241,867,000 after acquiring an additional 729,394 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of NetApp in the 4th quarter valued at about $64,683,000. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares of the company’s stock, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the sale, the chief accounting officer now directly owns 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,026 shares of company stock valued at $2,549,860 in the last three months. 0.47% of the stock is owned by corporate insiders.

NetApp Trading Up 0.8%

Shares of NASDAQ NTAP opened at $104.60 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a market capitalization of $21.28 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The business has a fifty day moving average price of $91.21 and a 200 day moving average price of $106.66.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $1.80 earnings per share. NetApp’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, July 3rd. NetApp’s payout ratio is 36.62%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Loop Capital reduced their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley reiterated a “cautious” rating on shares of NetApp in a report on Tuesday, May 20th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on NetApp from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, NetApp currently has an average rating of “Hold” and an average target price of $117.79.

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.