NetApp, Inc. (NASDAQ:NTAP) Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 10.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,468 shares of the data storage provider’s stock after acquiring an additional 2,100 shares during the period. KMG Fiduciary Partners LLC’s holdings in NetApp were worth $1,886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 215 shares in the last quarter. Synergy Investment Management LLC acquired a new position in NetApp during the 4th quarter worth approximately $32,000. Itau Unibanco Holding S.A. grew its holdings in NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 251 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in NetApp during the 4th quarter worth approximately $35,000. Finally, Coppell Advisory Solutions LLC grew its holdings in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Up 1.6%

NTAP stock opened at $106.25 on Monday. The company has a fifty day moving average price of $91.54 and a 200 day moving average price of $106.29. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a market cap of $21.61 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. NetApp’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.96%. NetApp’s payout ratio is currently 36.62%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NTAP shares. Wedbush restated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a report on Friday, May 30th. Morgan Stanley restated a “cautious” rating on shares of NetApp in a report on Tuesday, May 20th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of NetApp from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 30th. Finally, Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $130.00 in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $117.79.

Insiders Place Their Bets

In other NetApp news, CAO Lorenzo Daniel De sold 302 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer now owns 455 shares in the company, valued at approximately $44,940.35. This represents a 39.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anders Gustafsson acquired 2,800 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $91.00 per share, with a total value of $254,800.00. Following the transaction, the director now owns 6,348 shares in the company, valued at $577,668. The trade was a 78.92% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,498 shares of company stock worth $2,500,978. 0.47% of the stock is owned by insiders.

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.