NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Lessened by ORG Wealth Partners LLC

ORG Wealth Partners LLC lowered its stake in NetApp, Inc. (NASDAQ:NTAP) by 34.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 575 shares of the data storage provider’s stock after selling 306 shares during the period. ORG Wealth Partners LLC’s holdings in NetApp were worth $67,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in NetApp during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in NetApp during the 3rd quarter worth approximately $27,000. Redwood Wealth Management Group LLC purchased a new position in NetApp during the 2nd quarter worth approximately $32,000. True Wealth Design LLC grew its position in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in NetApp during the 3rd quarter worth approximately $44,000. Institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTAP. Stifel Nicolaus lifted their price objective on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price objective on the stock in a research report on Monday, December 16th. Barclays lifted their price objective on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. TD Cowen lifted their price objective on shares of NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Wedbush restated a “neutral” rating and set a $120.00 price target on shares of NetApp in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, NetApp has an average rating of “Hold” and a consensus target price of $139.20.

NetApp Trading Down 1.5 %

Shares of NASDAQ:NTAP opened at $116.28 on Friday. The stock has a market capitalization of $23.64 billion, a PE ratio of 21.38, a P/E/G ratio of 2.92 and a beta of 1.23. NetApp, Inc. has a 1 year low of $83.80 and a 1 year high of $135.45. The firm has a fifty day moving average price of $121.02 and a 200 day moving average price of $123.22. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. NetApp’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. Analysts expect that NetApp, Inc. will post 5.83 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, January 3rd. NetApp’s dividend payout ratio is 38.24%.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction 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 represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,159 shares of company stock valued at $6,096,859 in the last quarter. Insiders own 0.47% of the company’s stock.

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.