NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAPGet Rating) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,663,750 shares of the data storage provider’s stock after purchasing an additional 32,644 shares during the period. Charles Schwab Investment Management Inc.’s holdings in NetApp were worth $153,048,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NTAP. Assetmark Inc. grew its position in shares of NetApp by 150.4% in the third quarter. Assetmark Inc. now owns 288 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 173 shares during the period. North Star Investment Management Corp. grew its position in shares of NetApp by 200.0% in the fourth quarter. North Star Investment Management Corp. now owns 300 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of NetApp in the fourth quarter valued at about $32,000. Achmea Investment Management B.V. acquired a new stake in shares of NetApp in the third quarter valued at about $35,000. Finally, Gradient Investments LLC acquired a new stake in shares of NetApp in the fourth quarter valued at about $37,000. Institutional investors own 91.91% of the company’s stock.

NetApp stock opened at $66.64 on Friday. The company’s 50 day simple moving average is $78.32 and its 200-day simple moving average is $84.89. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. NetApp, Inc. has a 1 year low of $64.58 and a 1 year high of $96.82. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.51 and a current ratio of 1.55.

NetApp (NASDAQ:NTAPGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. NetApp had a net margin of 16.34% and a return on equity of 126.47%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. Equities analysts expect that NetApp, Inc. will post 4.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Friday, April 8th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, April 7th. NetApp’s dividend payout ratio (DPR) is 45.25%.

In related news, President Cesar Cernuda sold 14,000 shares of NetApp stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $80.79, for a total value of $1,131,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 4,250 shares of NetApp stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $90.39, for a total transaction of $384,157.50. The disclosure for this sale can be found here. Insiders sold a total of 26,750 shares of company stock worth $2,217,998 over the last three months. Insiders own 0.28% of the company’s stock.

Several analysts have recently issued reports on NTAP shares. Susquehanna Bancshares lifted their target price on shares of NetApp from $105.00 to $110.00 and gave the company a “positive” rating in a research report on Thursday, February 24th. Barclays upgraded shares of NetApp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $102.00 in a research report on Thursday, March 10th. Susquehanna restated a “buy” rating and set a $110.00 price target on shares of NetApp in a research report on Wednesday, March 23rd. UBS Group assumed coverage on shares of NetApp in a research report on Tuesday, April 5th. They set a “neutral” rating and a $91.00 price target on the stock. Finally, Northland Securities boosted their price target on shares of NetApp from $111.00 to $124.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $100.22.

NetApp Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

Further Reading

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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