LPL Financial LLC Acquires 1,109 Shares of NetApp, Inc. (NASDAQ:NTAP)

LPL Financial LLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,392 shares of the data storage provider’s stock after purchasing an additional 1,109 shares during the quarter. LPL Financial LLC’s holdings in NetApp were worth $1,332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. increased its holdings in NetApp by 1.1% in the 3rd quarter. Xponance Inc. now owns 21,357 shares of the data storage provider’s stock worth $936,000 after acquiring an additional 235 shares in the last quarter. Albert D Mason Inc. grew its holdings in shares of NetApp by 1.4% during the third quarter. Albert D Mason Inc. now owns 19,280 shares of the data storage provider’s stock worth $845,000 after buying an additional 260 shares in the last quarter. Anderson Fisher LLC grew its holdings in shares of NetApp by 45.2% during the third quarter. Anderson Fisher LLC now owns 838 shares of the data storage provider’s stock worth $37,000 after buying an additional 261 shares in the last quarter. CWM LLC grew its holdings in shares of NetApp by 82.8% during the third quarter. CWM LLC now owns 649 shares of the data storage provider’s stock worth $28,000 after buying an additional 294 shares in the last quarter. Finally, Personal Capital Advisors Corp grew its holdings in shares of NetApp by 4.1% during the second quarter. Personal Capital Advisors Corp now owns 8,656 shares of the data storage provider’s stock worth $384,000 after buying an additional 337 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

In other NetApp news, Director Thomas Michael Nevens sold 22,831 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $44.62, for a total value of $1,018,719.22. Following the transaction, the director now directly owns 22,831 shares of the company’s stock, valued at approximately $1,018,719.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.

NetApp stock opened at $58.49 on Friday. The stock’s 50 day moving average price is $48.93 and its 200 day moving average price is $45.19. NetApp, Inc. has a one year low of $34.66 and a one year high of $65.38. The firm has a market capitalization of $12.99 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 9.26, a quick ratio of 1.57 and a current ratio of 1.62.

NetApp (NASDAQ:NTAP) last announced its earnings results on Monday, November 30th. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.32. NetApp had a return on equity of 240.01% and a net margin of 14.47%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.09 EPS. NetApp’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that NetApp, Inc. will post 2.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Friday, January 8th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, January 7th. NetApp’s payout ratio is 54.39%.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of NetApp from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Citigroup upped their target price on shares of NetApp from $37.00 to $39.00 and gave the company a “sell” rating in a research report on Thursday, August 27th. Cowen upped their target price on shares of NetApp from $45.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, August 27th. Stifel Nicolaus upped their target price on shares of NetApp from $50.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, Northland Securities increased their price target on shares of NetApp from $51.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the company’s stock. NetApp has a consensus rating of “Hold” and a consensus price target of $56.85.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Global File Cache, NetApp SaaS Backup, NetApp Cloud Manager, NetApp Fabric Orchestrator, and NetApp Cloud Insights.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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