Checchi Capital Advisers LLC Acquires 283 Shares of NetApp, Inc. $NTAP

Checchi Capital Advisers LLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 9.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,372 shares of the data storage provider’s stock after purchasing an additional 283 shares during the period. Checchi Capital Advisers LLC’s holdings in NetApp were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NTAP. Vanguard Group Inc. boosted its stake in shares of NetApp by 2.3% during the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after purchasing an additional 597,956 shares in the last quarter. Ameriprise Financial Inc. boosted its position in NetApp by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock valued at $623,383,000 after acquiring an additional 72,223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after acquiring an additional 560,218 shares during the period. Invesco Ltd. raised its position in shares of NetApp by 12.3% in the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock worth $308,107,000 after acquiring an additional 384,362 shares in the last quarter. Finally, Amundi lifted its stake in shares of NetApp by 11.8% during the 1st quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock worth $183,209,000 after purchasing an additional 230,793 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. UBS Group lifted their price objective on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Argus reiterated a “buy” rating and set a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Northland Securities lifted their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Finally, Barclays upped their price target on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.07.

NetApp Price Performance

Shares of NTAP opened at $120.42 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The company’s fifty day moving average price is $114.64 and its 200-day moving average price is $103.01. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The firm has a market capitalization of $24.04 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.45.

NetApp Dividend Announcement

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

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were 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 represents a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,529 shares of company stock valued at $3,350,714. Company insiders own 0.28% of the company’s stock.

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.