Childress Capital Advisors LLC Purchases Shares of 2,605 NetApp, Inc. $NTAP

Key Points

• Childress Capital Advisors LLC has acquired 2,605 shares of NetApp, Inc. (NTAP), valued at approximately $278,000, marking a new position for the firm.
• NetApp's stock has been rated with a mix of "Buy" and "Hold" ratings from analysts, with a consensus target price of $124.07.
• The company announced a quarterly dividend of $0.52 per share, scheduled for payment on October 22nd, reflecting a yield of 1.8%.

Childress Capital Advisors LLC acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,605 shares of the data storage provider's stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTAP. Manchester Capital Management LLC lifted 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 valued at $25,000 after purchasing an additional 225 shares in the last quarter. 1248 Management LLC purchased a new position in NetApp during the first quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in NetApp during the first quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. lifted 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 valued at $31,000 after purchasing an additional 124 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in NetApp during the first quarter valued at $36,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NTAP. Bank of America raised their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Citigroup raised their price target on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Northland Securities raised their price target on shares of NetApp from $119.00 to $120.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Argus reissued a "buy" rating and issued a $130.00 price target on shares of NetApp in a research note on Friday, August 29th. Finally, UBS Group raised their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $124.07.

NetApp Stock Up 0.0%

Shares of NASDAQ NTAP opened at $118.50 on Thursday. The company has a market capitalization of $23.65 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.57 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The business has a 50-day moving average of $113.79 and a two-hundred day moving average of $102.31. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45.

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 of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.8%. NetApp's dividend payout ratio is currently 36.75%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares of the company's stock, valued at $2,922,074.76. This represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 8,750 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 in the company, 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. Insiders sold a total of 29,529 shares of company stock valued at $3,350,714 in the last ninety days. Insiders own 0.28% of the company's stock.

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.

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