Lindbrook Capital LLC Acquires 123 Shares of NetApp, Inc. (NASDAQ:NTAP)

Lindbrook Capital LLC lifted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 10.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,336 shares of the data storage provider’s stock after purchasing an additional 123 shares during the quarter. Lindbrook Capital LLC’s holdings in NetApp were worth $118,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Hennessy Advisors Inc. lifted its holdings in shares of NetApp by 0.3% in the 4th quarter. Hennessy Advisors Inc. now owns 41,209 shares of the data storage provider’s stock valued at $3,633,000 after acquiring an additional 134 shares during the last quarter. Huntington National Bank grew its stake in shares of NetApp by 40.4% during the third quarter. Huntington National Bank now owns 490 shares of the data storage provider’s stock valued at $37,000 after buying an additional 141 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of NetApp by 14.4% in the fourth quarter. Blue Trust Inc. now owns 1,187 shares of the data storage provider’s stock worth $105,000 after buying an additional 149 shares during the period. UMB Bank n.a. lifted its stake in shares of NetApp by 82.9% during the 4th quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 150 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its holdings in NetApp by 2.6% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 6,279 shares of the data storage provider’s stock valued at $554,000 after acquiring an additional 158 shares during the period. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now directly owns 252,702 shares in the company, valued at approximately $26,068,738.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares in the company, valued at approximately $989,095.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $103.16, for a total transaction of $876,860.00. Following the transaction, the chief executive officer now directly owns 252,702 shares of the company’s stock, valued at $26,068,738.32. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock worth $4,139,505 in the last three months. Corporate insiders own 0.37% of the company’s stock.

NetApp Stock Up 1.5 %

NASDAQ:NTAP opened at $99.42 on Wednesday. NetApp, Inc. has a fifty-two week low of $60.92 and a fifty-two week high of $112.48. The stock has a market capitalization of $20.52 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.16 and a beta of 1.28. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. The company’s 50-day simple moving average is $99.38 and its 200-day simple moving average is $88.94.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the business earned $1.02 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 45.45%.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 target price (up previously from $105.00) on shares of NetApp in a research note on Friday, March 1st. Raymond James reaffirmed a “market perform” rating on shares of NetApp in a research note on Tuesday, January 16th. Barclays raised their price target on shares of NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. UBS Group raised their price target on shares of NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Argus raised shares of NetApp from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.60.

NetApp Company 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.