Greenleaf Trust Has $628,000 Stock Position in NetApp, Inc. $NTAP

Greenleaf Trust raised its stake in NetApp, Inc. (NASDAQ:NTAP) by 10.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,895 shares of the data storage provider’s stock after buying an additional 551 shares during the quarter. Greenleaf Trust’s holdings in NetApp were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTAP. Wellington Management Group LLP raised its holdings in NetApp by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 17,461 shares of the data storage provider’s stock valued at $2,027,000 after acquiring an additional 2,463 shares in the last quarter. GAMMA Investing LLC raised its holdings in NetApp by 7,160.0% in the 1st quarter. GAMMA Investing LLC now owns 238,925 shares of the data storage provider’s stock valued at $20,987,000 after acquiring an additional 235,634 shares in the last quarter. Merit Financial Group LLC raised its holdings in NetApp by 57.3% in the 1st quarter. Merit Financial Group LLC now owns 17,335 shares of the data storage provider’s stock valued at $1,523,000 after acquiring an additional 6,314 shares in the last quarter. RFG Advisory LLC raised its holdings in NetApp by 9.7% in the 1st quarter. RFG Advisory LLC now owns 5,020 shares of the data storage provider’s stock valued at $441,000 after acquiring an additional 443 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised its holdings in NetApp by 51.5% in the 1st quarter. E. Ohman J or Asset Management AB now owns 8,483 shares of the data storage provider’s stock valued at $745,000 after acquiring an additional 2,883 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the sale, the executive vice president owned 23,628 shares in the company, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,529 shares of company stock worth $3,350,714. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Argus reiterated a “buy” rating and issued a $130.00 price target on shares of NetApp in a research note on Friday, August 29th. Morgan Stanley set a $117.00 price target on NetApp in a report on Thursday, August 28th. UBS Group boosted their price target on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Finally, Bank of America boosted their price target on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $124.07.

NetApp Price Performance

Shares of NTAP opened at $120.07 on Friday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The business has a 50-day simple moving average of $114.10 and a two-hundred day simple moving average of $102.49. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The stock has a market cap of $23.97 billion, a PE ratio of 21.21, a PEG ratio of 2.57 and a beta of 1.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s payout ratio is 36.75%.

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.