2,244 Shares in NetApp, Inc. $NTAP Bought by Clarity Financial LLC

Key Points

• Clarity Financial LLC bought 2,244 shares of NetApp, Inc. in the 2nd quarter, valued at approximately $239,000, increasing institutional ownership to 92.17%.
• Insider trading revealed that CAO Lorenzo Daniel De and CEO George Kurian sold shares totaling over $1.17 million, with insiders selling 29,529 shares worth approximately $3.35 million in the last 90 days.
• NetApp announced a quarterly dividend of $0.52 per share to be paid on October 22nd, representing an annualized yield of 1.8% and a payout ratio of 36.75%.

Clarity Financial LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,244 shares of the data storage provider's stock, valued at approximately $239,000.

Several other institutional investors have also bought and sold shares of NTAP. Manchester Capital Management LLC grew its holdings in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC bought a new stake in NetApp during the first quarter worth $25,000. Olde Wealth Management LLC bought a new stake in NetApp during the first quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in NetApp by 54.9% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock worth $31,000 after buying an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in NetApp during the first quarter worth $36,000. Institutional investors own 92.17% of the company's stock.

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of NetApp stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company's stock, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,529 shares of company stock worth $3,350,714. 0.28% of the stock is owned by insiders.

NetApp Stock Up 0.0%

Shares of NASDAQ:NTAP opened at $118.50 on Thursday. The stock has a fifty day simple moving average of $113.79 and a two-hundred day simple moving average of $102.31. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 2.57 and a beta of 1.45. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp's payout ratio is presently 36.75%.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. Bank of America upped their price objective on NetApp from $121.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. UBS Group upped their price objective on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their price objective on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays upped their price objective on NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Finally, Citigroup upped their price objective on NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, NetApp has an average rating of "Hold" and an average price target of $124.07.

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.

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