Checchi Capital Advisers LLC Purchases 283 Shares of NetApp, Inc. $NTAP

Checchi Capital Advisers LLC grew its position in NetApp, Inc. (NASDAQ:NTAP) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,372 shares of the data storage provider’s stock after acquiring an additional 283 shares during the quarter. Checchi Capital Advisers LLC’s holdings in NetApp were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTAP. 1248 Management LLC bought a new stake in NetApp in the first quarter worth $25,000. Manchester Capital Management LLC grew its stake in shares of NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of NetApp in the 1st quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of NetApp in the 1st quarter valued at about $36,000. 92.17% of the stock is currently owned by institutional investors.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $105,900.00. Following the completion of the sale, the executive vice president directly owned 23,251 shares of the company’s stock, valued at approximately $2,462,280.90. This trade represents 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 have sold 29,529 shares of company stock worth $3,350,714. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NTAP shares. JPMorgan Chase & Co. boosted their price objective on NetApp from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Wedbush reiterated a “neutral” rating and issued a $150.00 target price on shares of NetApp in a report on Thursday, August 28th. Northland Securities increased their price target on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Saturday, September 27th. Finally, Citigroup boosted 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. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus price target of $124.07.

NetApp Price Performance

NTAP opened at $120.42 on Tuesday. The business has a fifty day moving average of $114.64 and a 200 day moving average of $103.01. The stock has a market cap of $24.04 billion, a P/E ratio of 21.28, a PEG ratio of 2.58 and a beta of 1.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45.

NetApp Dividend Announcement

The business 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp’s payout ratio is currently 36.75%.

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.