Landscape Capital Management L.L.C. Raises Stake in NetApp, Inc. (NASDAQ:NTAP)

Landscape Capital Management L.L.C. increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 83.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,136 shares of the data storage provider’s stock after buying an additional 6,410 shares during the period. Landscape Capital Management L.L.C.’s holdings in NetApp were worth $1,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its position in NetApp by 46.1% during the 1st quarter. Bessemer Group Inc. now owns 16,720 shares of the data storage provider’s stock valued at $1,754,000 after purchasing an additional 5,273 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in shares of NetApp in the 1st quarter worth $208,000. Crewe Advisors LLC bought a new position in NetApp in the first quarter worth about $35,000. EntryPoint Capital LLC purchased a new stake in shares of NetApp during the first quarter valued at about $101,000. Finally, CreativeOne Wealth LLC boosted its holdings in shares of NetApp by 45.6% in the 1st quarter. CreativeOne Wealth LLC now owns 5,164 shares of the data storage provider’s stock valued at $543,000 after buying an additional 1,618 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $126.75 on Friday. The company has a 50-day moving average price of $121.77 and a 200 day moving average price of $122.39. NetApp, Inc. has a 52 week low of $77.46 and a 52 week high of $135.01. The company has a market cap of $25.96 billion, a P/E ratio of 24.76, a PEG ratio of 3.13 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 EPS. Research analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. NetApp’s dividend payout ratio (DPR) is 40.63%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Citigroup increased their price objective on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Oppenheimer started coverage on NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Bank of America increased their price target on NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of NetApp in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and an average target price of $129.06.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total transaction of $88,971.00. Following the completion of the transaction, the executive vice president now directly owns 11,694 shares of the company’s stock, valued at approximately $1,475,782.80. This trade represents a 5.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction that occurred 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 sold 23,049 shares of company stock valued at $2,807,851 over the last quarter. Company insiders own 0.47% of the company’s stock.

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.