Ewa LLC Has $270,000 Position in NetApp, Inc. $NTAP

Ewa LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 5.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,535 shares of the data storage provider’s stock after purchasing an additional 131 shares during the quarter. Ewa LLC’s holdings in NetApp were worth $270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NTAP. Wellington Management Group LLP boosted its position in shares of NetApp by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 17,461 shares of the data storage provider’s stock worth $2,027,000 after buying an additional 2,463 shares during the period. GAMMA Investing LLC boosted its position in NetApp by 7,160.0% during the first quarter. GAMMA Investing LLC now owns 238,925 shares of the data storage provider’s stock valued at $20,987,000 after purchasing an additional 235,634 shares during the last quarter. Rhumbline Advisers boosted its position in NetApp by 5.6% during the first quarter. Rhumbline Advisers now owns 580,655 shares of the data storage provider’s stock valued at $51,005,000 after purchasing an additional 30,981 shares during the last quarter. Czech National Bank boosted its position in NetApp by 5.2% during the first quarter. Czech National Bank now owns 46,696 shares of the data storage provider’s stock valued at $4,102,000 after purchasing an additional 2,295 shares during the last quarter. Finally, NBC Securities Inc. boosted its position in NetApp by 108,500.0% during the first quarter. NBC Securities Inc. now owns 8,688 shares of the data storage provider’s stock valued at $763,000 after purchasing an additional 8,680 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,750 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $105.90, for a total value of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares in the company, valued at approximately $2,462,280.90. This trade represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,529 shares of company stock worth $3,350,714. Company insiders own 0.28% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $118.50 on Thursday. The firm has a market cap of $23.65 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.57 and a beta of 1.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The business’s 50 day moving average is $113.79 and its 200-day moving average is $102.31.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s dividend payout ratio (DPR) is 36.75%.

Wall Street Analyst Weigh In

Several research analysts recently commented on NTAP shares. JPMorgan Chase & Co. increased their price target on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Barclays increased their price target on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Argus reissued a “buy” rating and set a $130.00 price target on shares of NetApp in a research report on Friday, August 29th. Morgan Stanley set a $117.00 price target on NetApp in a research report on Thursday, August 28th. Finally, UBS Group increased their price target on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.07.

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.