Diversified Trust Co Has $4.79 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Diversified Trust Co grew its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,533 shares of the data storage provider's stock after purchasing an additional 8,241 shares during the quarter. Diversified Trust Co's holdings in NetApp were worth $4,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sylvest Advisors LLC increased its holdings in NetApp by 9.9% in the first quarter. Sylvest Advisors LLC now owns 8,127 shares of the data storage provider's stock worth $714,000 after purchasing an additional 731 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of NetApp by 124.3% during the 1st quarter. Golden State Wealth Management LLC now owns 673 shares of the data storage provider's stock worth $59,000 after buying an additional 373 shares during the period. Spire Wealth Management increased its stake in shares of NetApp by 123.5% in the 1st quarter. Spire Wealth Management now owns 3,741 shares of the data storage provider's stock valued at $329,000 after acquiring an additional 2,067 shares in the last quarter. Daymark Wealth Partners LLC increased its stake in shares of NetApp by 1.7% in the 1st quarter. Daymark Wealth Partners LLC now owns 18,230 shares of the data storage provider's stock valued at $1,601,000 after acquiring an additional 307 shares in the last quarter. Finally, Edmp Inc. lifted its position in shares of NetApp by 204.3% during the 1st quarter. Edmp Inc. now owns 9,961 shares of the data storage provider's stock valued at $876,000 after acquiring an additional 6,688 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Down 0.4%

NTAP stock opened at $104.75 on Friday. The firm has a market capitalization of $20.99 billion, a PE ratio of 18.44, a P/E/G ratio of 2.42 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock's 50 day moving average is $97.61 and its 200-day moving average is $104.40.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm posted $1.80 EPS. NetApp's quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.99%. NetApp's dividend payout ratio is currently 36.62%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTAP. TD Cowen reduced their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Barclays raised their target price on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Morgan Stanley reaffirmed a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Finally, Evercore ISI cut their price target on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, NetApp currently has an average rating of "Hold" and a consensus target price of $117.79.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the sale, the chief accounting officer now directly owns 455 shares in the company, valued at approximately $44,940.35. This trade represents a 39.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $101.78, for a total value of $865,130.00. Following the completion of the transaction, the chief executive officer now owns 296,805 shares of the company's stock, valued at $30,208,812.90. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,302 shares of company stock valued at $1,590,514 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

NetApp Company 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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