NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,468 shares of the data storage provider’s stock after purchasing an additional 2,100 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in NetApp were worth $1,886,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NTAP. Vanguard Group Inc. boosted its position in NetApp by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock worth $3,069,617,000 after acquiring an additional 429,343 shares during the last quarter. Ameriprise Financial Inc. boosted its position in NetApp by 14.5% during the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider’s stock worth $815,402,000 after acquiring an additional 888,671 shares during the last quarter. Invesco Ltd. boosted its position in NetApp by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider’s stock worth $362,544,000 after acquiring an additional 529,471 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NetApp by 8.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,986,330 shares of the data storage provider’s stock worth $346,653,000 after acquiring an additional 220,393 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its position in NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider’s stock worth $335,215,000 after acquiring an additional 12,919 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, Director Anders Gustafsson bought 2,800 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $91.00 per share, with a total value of $254,800.00. Following the purchase, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. This represents a 78.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the sale, the chief accounting officer now directly owns 455 shares in the company, valued at approximately $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,498 shares of company stock valued at $2,500,978 in the last ninety days. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent research reports. Evercore ISI lowered their price target on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. UBS Group reduced their target price on shares of NetApp from $115.00 to $108.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Finally, Wells Fargo & Company reduced their target price on shares of NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $117.79.

NetApp Price Performance

NetApp stock opened at $106.25 on Monday. The company’s 50 day simple moving average is $91.54 and its 200-day simple moving average is $106.29. The company has a market capitalization of $21.61 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.80 EPS. As a group, equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, July 3rd. NetApp’s payout ratio is currently 36.62%.

NetApp 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.