NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 20.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,141 shares of the data storage provider’s stock after buying an additional 4,579 shares during the quarter. Captrust Financial Advisors’ holdings in NetApp were worth $3,352,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Hollencrest Capital Management purchased a new position in NetApp in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in NetApp in the 3rd quarter valued at approximately $27,000. Redwood Wealth Management Group LLC purchased a new position in NetApp in the 2nd quarter valued at approximately $32,000. Robbins Farley purchased a new position in NetApp in the 2nd quarter valued at approximately $44,000. Finally, Hershey Financial Advisers LLC purchased a new position in NetApp in the 2nd quarter valued at approximately $45,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several research analyst reports. Citigroup raised their price objective on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Stifel Nicolaus raised their price objective on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley raised their price target on NetApp from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Northland Securities raised their price target on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Finally, Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of NetApp in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.40.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the transaction, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at $36,922,233.58. This trade represents a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,049 shares of company stock valued at $2,807,851 over the last three months. 0.47% of the stock is owned by insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $129.05 on Thursday. NetApp, Inc. has a 52 week low of $83.62 and a 52 week high of $135.45. The company has a market cap of $26.24 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.95 and a beta of 1.23. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The business has a fifty day simple moving average of $122.55 and a 200-day simple moving average of $123.48.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts forecast that NetApp, Inc. will post 5.83 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is currently 38.24%.

About NetApp

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.