Moors & Cabot Inc. Has $242,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Moors & Cabot Inc. cut its position in NetApp, Inc. (NASDAQ:NTAPFree Report) by 41.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,167 shares of the data storage provider’s stock after selling 2,274 shares during the quarter. Moors & Cabot Inc.’s holdings in NetApp were worth $242,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in NetApp during the 1st quarter worth approximately $28,000. Global Retirement Partners LLC increased its position in NetApp by 51.6% in the 1st quarter. Global Retirement Partners LLC now owns 464 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 158 shares during the period. Massmutual Trust Co. FSB ADV increased its position in NetApp by 34.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 595 shares of the data storage provider’s stock valued at $45,000 after acquiring an additional 152 shares during the period. Caldwell Sutter Capital Inc. increased its position in NetApp by 41.1% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 748 shares of the data storage provider’s stock valued at $57,000 after acquiring an additional 218 shares during the period. Finally, WealthPLAN Partners LLC acquired a new position in NetApp in the 1st quarter valued at approximately $65,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTAP. UBS Group upped their price target on shares of NetApp from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, August 24th. William Blair cut shares of NetApp from an “outperform” rating to a “market perform” rating in a research report on Monday, September 18th. Susquehanna raised shares of NetApp from a “neutral” rating to a “positive” rating and upped their price objective for the company from $62.00 to $100.00 in a research note on Tuesday, September 5th. Raymond James upped their price objective on shares of NetApp from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Finally, Citigroup upped their price objective on shares of NetApp from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.84.

Read Our Latest Analysis on NetApp

Insider Activity

In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $79.44, for a total transaction of $1,747,680.00. Following the completion of the sale, the president now directly owns 103,659 shares in the company, valued at $8,234,670.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $79.44, for a total transaction of $1,747,680.00. Following the completion of the sale, the president now directly owns 103,659 shares in the company, valued at $8,234,670.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 4,500 shares of NetApp stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $76.26, for a total transaction of $343,170.00. Following the sale, the chief executive officer now owns 267,636 shares of the company’s stock, valued at $20,409,921.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,489 shares of company stock worth $5,909,145. 0.37% of the stock is owned by company insiders.

NetApp Stock Performance

NASDAQ NTAP opened at $77.94 on Tuesday. NetApp, Inc. has a 52-week low of $58.08 and a 52-week high of $80.53. The company has a 50-day simple moving average of $75.65 and a 200 day simple moving average of $74.58. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market capitalization of $16.27 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.20.

NetApp (NASDAQ:NTAPGet Free Report) last issued its earnings results on Wednesday, August 23rd. The data storage provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.08. NetApp had a net margin of 19.49% and a return on equity of 85.69%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s quarterly revenue was down 10.1% on a year-over-year basis. On average, research analysts predict that NetApp, Inc. will post 4.48 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. NetApp’s dividend payout ratio (DPR) is currently 36.17%.

NetApp Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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