Ewa LLC Has $270,000 Stake in NetApp, Inc. $NTAP

Ewa LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,535 shares of the data storage provider’s stock after buying an additional 131 shares during the quarter. Ewa LLC’s holdings in NetApp were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Manchester Capital Management LLC boosted its stake in NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 225 shares in the last quarter. 1248 Management LLC acquired a new position in NetApp in the first quarter worth $25,000. Olde Wealth Management LLC acquired a new position in NetApp in the first quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in NetApp by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in NetApp in the first quarter worth $36,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $105.90, for a total value of $105,900.00. Following the completion of the transaction, the executive vice president directly owned 23,251 shares of the company’s stock, valued at approximately $2,462,280.90. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,529 shares of company stock valued at $3,350,714. Company insiders own 0.28% of the company’s stock.

NetApp Trading Up 0.0%

NASDAQ NTAP opened at $118.50 on Thursday. The stock has a 50-day simple moving average of $113.79 and a 200 day simple moving average of $102.31. The company has a market capitalization of $23.65 billion, a PE ratio of 20.94, a P/E/G ratio of 2.57 and a beta of 1.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is presently 36.75%.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Northland Securities boosted their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Argus restated a “buy” rating and set a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. Wedbush restated a “neutral” rating and set a $150.00 target price on shares of NetApp in a research report on Thursday, August 28th. Finally, Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.