Raymond James Trust N.A. Acquires 487 Shares of NetApp, Inc. (NASDAQ:NTAP)

Raymond James Trust N.A. increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,206 shares of the data storage provider’s stock after acquiring an additional 487 shares during the period. Raymond James Trust N.A.’s holdings in NetApp were worth $519,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in NetApp in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of NetApp during the third quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of NetApp in the first quarter valued at approximately $28,000. Redwood Wealth Management Group LLC bought a new position in NetApp in the second quarter worth approximately $32,000. Finally, Robbins Farley purchased a new position in NetApp during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of a number of recent research reports. Loop Capital raised NetApp from a “hold” rating to a “buy” rating and increased their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Barclays increased their target price on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Northland Securities boosted their price target on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. TD Cowen increased their price objective on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, UBS Group lifted their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $134.00.

Insider Buying and Selling

In other NetApp news, Director Thomas Michael Nevens sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $119.23, for a total transaction of $397,393.59. Following the completion of the transaction, the director now directly owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Insiders sold 23,049 shares of company stock valued at $2,807,851 over the last quarter. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Performance

Shares of NetApp stock opened at $129.60 on Wednesday. The firm has a market capitalization of $26.54 billion, a P/E ratio of 23.82, a PEG ratio of 3.15 and a beta of 1.24. NetApp, Inc. has a 52 week low of $77.56 and a 52 week high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average price of $122.25 and a 200 day moving average price of $122.96.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, January 3rd. NetApp’s payout ratio is 38.24%.

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.