Peak Financial Advisors LLC Has $2.78 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Peak Financial Advisors LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,936 shares of the data storage provider’s stock after buying an additional 173 shares during the period. NetApp makes up 1.4% of Peak Financial Advisors LLC’s portfolio, making the stock its 27th largest holding. Peak Financial Advisors LLC’s holdings in NetApp were worth $2,778,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Aviso Wealth Management raised its holdings in NetApp by 1.4% in the 2nd quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after acquiring an additional 83 shares in the last quarter. Quarry LP lifted its holdings in shares of NetApp by 11.7% in the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock worth $113,000 after acquiring an additional 92 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its stake in shares of NetApp by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock valued at $2,437,000 after purchasing an additional 95 shares in the last quarter. OLD National Bancorp IN grew its holdings in shares of NetApp by 3.5% during the 3rd quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider’s stock valued at $431,000 after purchasing an additional 118 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in NetApp by 4.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock worth $340,000 after purchasing an additional 118 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the topic of a number of research reports. Northland Securities boosted their target price on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their target price on NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Stifel Nicolaus boosted their price target on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Finally, Barclays lifted their target price on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and an average price target of $139.20.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,610 shares of company stock worth $6,149,531 in the last quarter. Insiders own 0.47% of the company’s stock.

NetApp Stock Performance

Shares of NetApp stock opened at $116.69 on Wednesday. The business has a 50-day simple moving average of $121.02 and a 200 day simple moving average of $122.97. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a one year low of $83.80 and a one year high of $135.45.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business earned $1.23 EPS. NetApp’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s payout ratio is presently 38.24%.

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.