Impact Partnership Wealth LLC Lowers Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Impact Partnership Wealth LLC lowered its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,368 shares of the data storage provider’s stock after selling 118 shares during the period. Impact Partnership Wealth LLC’s holdings in NetApp were worth $416,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in shares of NetApp by 46.1% in the first quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock worth $1,754,000 after purchasing an additional 5,273 shares during the period. Headlands Technologies LLC purchased a new stake in shares of NetApp in the 1st quarter valued at about $473,000. Russell Investments Group Ltd. boosted its position in shares of NetApp by 60.5% during the 1st quarter. Russell Investments Group Ltd. now owns 527,064 shares of the data storage provider’s stock valued at $55,355,000 after acquiring an additional 198,627 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of NetApp by 221.9% during the first quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock worth $32,731,000 after purchasing an additional 207,968 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of NetApp by 63.9% in the first quarter. Sei Investments Co. now owns 343,218 shares of the data storage provider’s stock worth $36,025,000 after purchasing an additional 133,813 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Up 0.2 %

NASDAQ:NTAP traded up $0.20 during mid-day trading on Thursday, reaching $119.21. 111,835 shares of the company’s stock traded hands, compared to its average volume of 1,824,208. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 4.77 and a beta of 1.23. The company has a 50 day moving average price of $123.60 and a 200-day moving average price of $119.85.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s payout ratio is presently 44.83%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NTAP shares. UBS Group lifted their target price on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Barclays upped their price objective on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Finally, Evercore ISI boosted their target price on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. One equities research 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, NetApp currently has a consensus rating of “Hold” and an average price target of $129.06.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,890 shares of company stock worth $1,369,172 over the last ninety days. 0.37% of the stock is owned by corporate insiders.

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.