Axxcess Wealth Management LLC Grows Stake in NetApp, Inc. (NASDAQ:NTAP)

Axxcess Wealth Management LLC boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,593 shares of the data storage provider’s stock after purchasing an additional 2,034 shares during the quarter. Axxcess Wealth Management LLC’s holdings in NetApp were worth $6,496,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of NetApp by 46.1% during the 1st quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock worth $1,754,000 after purchasing an additional 5,273 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of NetApp in the first quarter valued at $473,000. Russell Investments Group Ltd. boosted its stake in shares of NetApp by 60.5% during the first quarter. Russell Investments Group Ltd. now owns 527,064 shares of the data storage provider’s stock valued at $55,355,000 after acquiring an additional 198,627 shares during the last quarter. National Bank of Canada FI increased its position in NetApp by 221.9% during the 1st quarter. National Bank of Canada FI now owns 301,699 shares of the data storage provider’s stock worth $32,731,000 after purchasing an additional 207,968 shares in the last quarter. Finally, Sei Investments Co. raised its stake in NetApp by 63.9% in the 1st quarter. Sei Investments Co. now owns 343,218 shares of the data storage provider’s stock valued at $36,025,000 after purchasing an additional 133,813 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction that occurred on 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 transaction, the executive vice president now owns 11,694 shares in the company, valued at approximately $1,475,782.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at $36,922,233.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,890 shares of company stock worth $1,369,172 in the last ninety days. 0.47% of the stock is owned by insiders.

NetApp Trading Up 1.0 %

NASDAQ NTAP opened at $124.01 on Friday. The stock has a market cap of $25.40 billion, a P/E ratio of 24.22, a PEG ratio of 4.55 and a beta of 1.24. The company’s fifty day simple moving average is $121.01 and its 200-day simple moving average is $121.17. 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, Inc. has a 52 week low of $75.32 and a 52 week high of $135.01.

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

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.68%. NetApp’s dividend payout ratio is presently 40.62%.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. Citigroup raised their price target on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. UBS Group increased their price target on NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Evercore ISI lifted their price objective on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research report on Monday, August 12th. Finally, Susquehanna reiterated a “positive” rating and set a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $129.06.

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.