Lifeworks Advisors LLC Purchases 171 Shares of NetApp, Inc. (NASDAQ:NTAP)

Lifeworks Advisors LLC raised its position in NetApp, Inc. (NASDAQ:NTAP) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 21,454 shares of the data storage provider’s stock after buying an additional 171 shares during the period. Lifeworks Advisors LLC’s holdings in NetApp were worth $2,650,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after purchasing an additional 416,233 shares during the last quarter. Legal & General Group Plc boosted its position in shares of NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after purchasing an additional 82,378 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in shares of NetApp by 11.9% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock worth $208,133,000 after purchasing an additional 211,204 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NetApp by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock worth $223,806,000 after purchasing an additional 196,952 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of NetApp by 59.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after purchasing an additional 613,583 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Down 1.4 %

NTAP traded down $1.72 during trading on Thursday, reaching $117.96. 275,864 shares of the stock traded hands, compared to its average volume of 1,801,099. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $24.16 billion, a PE ratio of 23.38, a P/E/G ratio of 4.54 and a beta of 1.24. The stock’s 50-day moving average is $121.08 and its 200 day moving average is $121.74. NetApp, Inc. has a 12 month low of $76.41 and a 12 month high of $135.01.

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

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. NetApp’s dividend payout ratio is presently 40.62%.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 292,778 shares in the company, valued at $36,922,233.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 292,778 shares in the company, valued at approximately $36,922,233.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Insiders have sold 10,890 shares of company stock worth $1,369,172 in the last quarter. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NTAP. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer initiated coverage on NetApp in a research report on Wednesday. They issued a “market perform” rating on the stock. Barclays lifted their price target on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Finally, Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $121.00 to $150.00 in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $129.06.

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.