Kera Capital Partners Inc. Takes $222,000 Position in NetApp, Inc. $NTAP

Key Points

• Kera Capital Partners Inc. has acquired a new position in NetApp, Inc., purchasing 2,080 shares valued at approximately $222,000.
• Recent analyst ratings for NetApp indicate mixed sentiments, with seven analysts rating it as a "Buy" and ten as a "Hold," alongside an average target price of $124.07.
• NetApp announced a quarterly dividend of $0.52, set to be paid on October 22nd, representing an annualized yield of 1.7%.

Kera Capital Partners Inc. acquired a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,080 shares of the data storage provider's stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 1248 Management LLC bought a new stake in NetApp in the 1st quarter valued at about $25,000. Manchester Capital Management LLC increased its position in NetApp by 375.0% in the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after buying an additional 225 shares in the last quarter. Park Square Financial Group LLC bought a new stake in NetApp in the 4th quarter valued at about $36,000. Olde Wealth Management LLC bought a new stake in NetApp in the 1st quarter valued at about $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider's stock valued at $31,000 after buying an additional 124 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NTAP. Wedbush reaffirmed a "neutral" rating and issued a $150.00 target price on shares of NetApp in a research report on Thursday, August 28th. Northland Securities boosted their target price on NetApp from $119.00 to $120.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Wells Fargo & Company decreased their target price on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. Finally, UBS Group boosted their price objective on NetApp from $108.00 to $114.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $124.07.

NetApp Stock Performance

Shares of NTAP opened at $124.00 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The stock has a 50 day moving average price of $109.52 and a two-hundred day moving average price of $99.80. The firm has a market capitalization of $24.75 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.70 and a beta of 1.46. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp's dividend payout ratio is currently 36.75%.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $108.08, for a total value of $918,680.00. Following the completion of the transaction, the chief executive officer directly owned 288,305 shares of the company's stock, valued at $31,160,004.40. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the transaction, the executive vice president directly owned 23,628 shares of the company's stock, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $2,180,315. 0.28% of the stock is currently owned by corporate insiders.

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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