Northwestern Mutual Wealth Management Co. Buys 205 Shares of NetApp, Inc. (NASDAQ:NTAP)

Northwestern Mutual Wealth Management Co. lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,007 shares of the data storage provider’s stock after purchasing an additional 205 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NetApp were worth $773,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in shares of NetApp by 22.5% in the 2nd quarter. NewEdge Advisors LLC now owns 11,981 shares of the data storage provider’s stock valued at $1,543,000 after acquiring an additional 2,203 shares during the last quarter. Creative Planning lifted its stake in shares of NetApp by 32.3% in the 2nd quarter. Creative Planning now owns 23,928 shares of the data storage provider’s stock valued at $3,082,000 after purchasing an additional 5,843 shares during the last quarter. Algert Global LLC lifted its stake in shares of NetApp by 26.9% in the 2nd quarter. Algert Global LLC now owns 4,108 shares of the data storage provider’s stock valued at $529,000 after purchasing an additional 870 shares during the last quarter. Aviso Wealth Management boosted its holdings in shares of NetApp by 1.4% in the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock worth $792,000 after purchasing an additional 83 shares during the period. Finally, Scientech Research LLC bought a new position in shares of NetApp during the 2nd quarter valued at approximately $509,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Up 0.4 %

Shares of NASDAQ:NTAP opened at $123.88 on Tuesday. The company has a market capitalization of $25.49 billion, a PE ratio of 26.67, a PEG ratio of 4.61 and a beta of 1.23. NetApp, Inc. has a 12-month low of $70.82 and a 12-month high of $135.01. The business has a 50 day moving average of $122.75 and a two-hundred day moving average of $118.13. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. As a group, analysts forecast that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. NetApp’s dividend payout ratio is currently 44.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NTAP shares. Bank of America raised their target price on shares of NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wedbush reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of NetApp in a research note on Monday, August 26th. Susquehanna reaffirmed a “positive” rating and set a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. Morgan Stanley raised their price target on shares of NetApp from $106.00 to $127.00 and gave the company an “equal weight” rating in a report on Wednesday, June 12th. Finally, Stifel Nicolaus boosted their target price on NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $129.06.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total transaction of $60,147.64. Following the transaction, the executive vice president now directly owns 11,886 shares of the company’s stock, valued at $1,581,670.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total value of $60,147.64. Following the completion of the sale, the executive vice president now owns 11,886 shares of the company’s stock, valued at $1,581,670.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,637 shares of company stock valued at $1,376,474. 0.37% of the stock is owned by corporate insiders.

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.