NetApp, Inc. $NTAP Stock Holdings Lifted by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 15.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,230 shares of the data storage provider’s stock after buying an additional 1,096 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in NetApp were worth $883,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NTAP. Vanguard Group Inc. lifted its position in NetApp by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider’s stock valued at $2,375,363,000 after purchasing an additional 597,956 shares during the last quarter. Ameriprise Financial Inc. lifted its position in NetApp by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock valued at $623,383,000 after purchasing an additional 72,223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after purchasing an additional 560,218 shares during the last quarter. Invesco Ltd. lifted its position in NetApp by 12.3% in the 1st quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider’s stock valued at $308,107,000 after purchasing an additional 384,362 shares during the last quarter. Finally, Amundi lifted its position in NetApp by 11.8% in the 1st quarter. Amundi now owns 2,179,710 shares of the data storage provider’s stock valued at $183,209,000 after purchasing an additional 230,793 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the sale, the executive vice president owned 23,628 shares in the company, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the sale, the chief executive officer owned 274,938 shares in the company, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,750 shares of company stock worth $3,255,778 in the last 90 days. 0.28% of the stock is owned by corporate insiders.

NetApp Trading Down 0.9%

Shares of NetApp stock opened at $125.16 on Friday. The firm has a market capitalization of $24.98 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The company’s fifty day moving average price is $111.36 and its two-hundred day moving average price is $100.72. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Morgan Stanley set a $117.00 target price on shares of NetApp in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Wedbush restated a “neutral” rating and set a $150.00 price target on shares of NetApp in a report on Thursday, August 28th. Finally, Barclays lifted their target price on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $124.07.

About NetApp

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.