10,773 Shares in NetApp, Inc. (NTAP) Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,773 shares of the data storage provider’s stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Neuberger Berman Group LLC raised its holdings in NetApp by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock worth $328,000 after buying an additional 58 shares during the last quarter. HPM Partners LLC raised its holdings in NetApp by 1.1% during the second quarter. HPM Partners LLC now owns 9,955 shares of the data storage provider’s stock worth $399,000 after buying an additional 107 shares during the last quarter. Calamos Advisors LLC raised its holdings in NetApp by 2.4% during the second quarter. Calamos Advisors LLC now owns 6,895 shares of the data storage provider’s stock worth $276,000 after buying an additional 160 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in NetApp by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,189 shares of the data storage provider’s stock worth $208,000 after buying an additional 185 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in NetApp by 0.3% during the second quarter. Arizona State Retirement System now owns 67,237 shares of the data storage provider’s stock worth $2,693,000 after buying an additional 200 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Richard P. Wallace sold 34,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the sale, the director now owns 24,132 shares in the company, valued at approximately $1,050,465.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total transaction of $83,011.76. Following the sale, the executive vice president now owns 17,812 shares in the company, valued at approximately $748,282.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,036 shares of company stock worth $10,171,008. 0.47% of the stock is owned by insiders.

NTAP has been the topic of several research reports. Citigroup upped their price objective on shares of NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. ValuEngine upgraded shares of NetApp from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. DA Davidson increased their target price on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating and increased their price target for the company from $43.00 to $62.00 in a research report on Thursday, November 16th. Finally, Raymond James Financial restated a “market perform” rating on shares of NetApp in a research report on Sunday, August 20th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.39.

Shares of NetApp, Inc. (NASDAQ:NTAP) opened at $57.37 on Friday. The firm has a market cap of $15,415.23, a P/E ratio of 21.72, a P/E/G ratio of 1.87 and a beta of 1.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. NetApp, Inc. has a one year low of $35.08 and a one year high of $58.99.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. equities analysts anticipate that NetApp, Inc. will post 2.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, January 4th. NetApp’s payout ratio is 34.33%.

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NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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