Balboa Wealth Partners Has $416,000 Holdings in NetApp, Inc. (NASDAQ:NTAP)

Balboa Wealth Partners boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,370 shares of the data storage provider’s stock after buying an additional 215 shares during the period. Balboa Wealth Partners’ holdings in NetApp were worth $416,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NTAP. Blair William & Co. IL increased its stake in shares of NetApp by 11.4% in the 1st quarter. Blair William & Co. IL now owns 19,411 shares of the data storage provider’s stock valued at $2,038,000 after purchasing an additional 1,990 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of NetApp by 10.7% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,585 shares of the data storage provider’s stock valued at $586,000 after purchasing an additional 538 shares during the last quarter. M&G Plc bought a new position in shares of NetApp in the 1st quarter valued at $12,546,000. Jupiter Asset Management Ltd. bought a new position in shares of NetApp in the 1st quarter valued at $810,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of NetApp by 18.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 477,816 shares of the data storage provider’s stock valued at $50,181,000 after purchasing an additional 75,038 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NTAP shares. Wedbush reiterated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research note on Monday, August 26th. Bank of America boosted their price objective on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Stifel Nicolaus boosted their price objective on NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays boosted their price objective on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Finally, Susquehanna restated a “positive” rating and set a $155.00 price objective on shares of NetApp in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $129.06.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This represents a 5.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the sale, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is owned by company insiders.

NetApp Stock Down 0.7 %

Shares of NASDAQ:NTAP opened at $117.21 on Friday. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 4.49 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The business’s 50-day moving average is $121.11 and its 200-day moving average is $121.72. NetApp, Inc. has a 1 year low of $76.41 and a 1 year high of $135.01.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio (DPR) is currently 40.63%.

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.