11,832 Shares in NetApp, Inc. $NTAP Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 11,832 shares of the data storage provider’s stock, valued at approximately $1,831,000.

A number of other hedge funds also recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in NetApp during the 4th quarter valued at $14,869,000. Norges Bank acquired a new position in shares of NetApp in the 4th quarter valued at about $458,060,000. Handelsbanken Fonder AB lifted its position in shares of NetApp by 106.8% in the fourth quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider’s stock worth $28,136,000 after purchasing an additional 135,715 shares in the last quarter. National Pension Service boosted its holdings in shares of NetApp by 13.6% during the fourth quarter. National Pension Service now owns 180,917 shares of the data storage provider’s stock worth $19,374,000 after purchasing an additional 21,643 shares during the period. Finally, Swedbank AB grew its position in NetApp by 22.0% during the fourth quarter. Swedbank AB now owns 97,086 shares of the data storage provider’s stock valued at $10,397,000 after purchasing an additional 17,520 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total transaction of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. This represents a 17.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president directly owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,297 shares of company stock worth $8,758,016 over the last three months. Corporate insiders own 0.36% of the company’s stock.

NetApp Stock Down 1.9%

NetApp stock opened at $187.02 on Friday. The company has a market capitalization of $36.70 billion, a P/E ratio of 29.41, a P/E/G ratio of 3.33 and a beta of 1.45. The firm’s fifty day simple moving average is $175.90 and its 200-day simple moving average is $138.03. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $209.06.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. Sell-side analysts forecast that NetApp, Inc. will post 7.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Northland Securities boosted their price target on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Wells Fargo & Company increased their price objective on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Evercore set a $210.00 price objective on NetApp in a research report on Monday, August 24th. Citigroup upped their target price on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. raised their price target on NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus price target of $179.77.

NetApp Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.