McAdam LLC Has $308,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

McAdam LLC boosted its stake in NetApp, Inc. (NASDAQ:NTAP) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,655 shares of the data storage provider’s stock after buying an additional 137 shares during the quarter. McAdam LLC’s holdings in NetApp were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in shares of NetApp by 22.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares in the last quarter. OLD National Bancorp IN raised its stake 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 worth $431,000 after purchasing an additional 118 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of NetApp by 4.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after buying an additional 118 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of NetApp by 2.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,108 shares of the data storage provider’s stock valued at $631,000 after buying an additional 120 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in NetApp by 2.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock worth $796,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the transaction, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,610 shares of company stock valued at $6,123,351 over the last ninety days. 0.47% of the stock is owned by company insiders.

NetApp Price Performance

Shares of NetApp stock opened at $122.10 on Monday. The firm has a fifty day moving average price of $121.21 and a two-hundred day moving average price of $122.24. NetApp, Inc. has a fifty-two week low of $83.80 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company has a market cap of $24.82 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.23 earnings per share. Analysts expect that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. NetApp’s payout ratio is 38.24%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wedbush reissued a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. TD Cowen raised their target price on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Citigroup boosted their price target on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, Northland Securities boosted their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.20.

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.