Bleakley Financial Group LLC Has $944,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Bleakley Financial Group LLC cut its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,645 shares of the data storage provider’s stock after selling 167 shares during the period. Bleakley Financial Group LLC’s holdings in NetApp were worth $944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NTAP. Acadian Asset Management LLC increased its position in NetApp by 17.5% during the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after buying an additional 416,233 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of NetApp by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after acquiring an additional 82,378 shares during the period. TD Asset Management Inc increased its holdings in shares of NetApp by 26.5% during the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after acquiring an additional 450,263 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in NetApp by 11.9% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,982,787 shares of the data storage provider’s stock valued at $208,133,000 after acquiring an additional 211,204 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in NetApp by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,737,578 shares of the data storage provider’s stock valued at $223,806,000 after purchasing an additional 196,952 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NTAP shares. JPMorgan Chase & Co. lifted their price target on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price target on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Evercore ISI boosted their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. Finally, Barclays upped their target price on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $129.06.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction dated 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 directly owns 11,694 shares of the company’s stock, valued at $1,475,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction on Thursday, October 10th. The shares were 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 of the company’s stock, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

NetApp Stock Performance

NASDAQ:NTAP opened at $126.53 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. NetApp, Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $135.01. The company has a 50 day simple moving average of $123.84 and a two-hundred day simple moving average of $119.61. The company has a market capitalization of $26.04 billion, a PE ratio of 27.27, a P/E/G ratio of 4.77 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. NetApp’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 earnings per share. Research analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.64%. NetApp’s dividend payout ratio is currently 44.83%.

NetApp Company 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.