NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,728 shares of the data storage provider’s stock after acquiring an additional 950 shares during the quarter. Larson Financial Group LLC’s holdings in NetApp were worth $415,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. boosted its position in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 251 shares during the period. Coppell Advisory Solutions LLC boosted its stake in NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock valued at $35,000 after buying an additional 100 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of NetApp in the fourth quarter valued at $36,000. Olde Wealth Management LLC bought a new position in NetApp in the first quarter valued at about $29,000. Finally, Millstone Evans Group LLC acquired a new position in NetApp in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 3.0%

Shares of NetApp stock opened at $107.25 on Friday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $21.49 billion, a P/E ratio of 18.88, a PEG ratio of 2.40 and a beta of 1.42. The stock has a 50 day moving average price of $102.87 and a two-hundred day moving average price of $102.97.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $1.80 EPS. NetApp’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.94%. NetApp’s dividend payout ratio (DPR) is 36.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NTAP shares. UBS Group reduced their target price on NetApp from $115.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Evercore ISI dropped their price target on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Wedbush reissued a “neutral” rating and set a $110.00 price objective on shares of NetApp in a report on Friday, May 30th. Citigroup raised their price target on NetApp from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, June 2nd. Finally, Wells Fargo & Company reduced their target price on NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $118.86.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $106.84, for a total transaction of $106,840.00. Following the transaction, the executive vice president directly owned 24,251 shares in the company, valued at approximately $2,590,976.84. This represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the sale, the chief executive officer directly owned 296,805 shares of the company’s stock, valued at approximately $30,208,812.90. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,302 shares of company stock worth $1,697,354 over the last ninety days. 0.47% of the stock is owned by insiders.

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.