Lifeworks Advisors LLC Buys 3,499 Shares of NetApp, Inc. (NASDAQ:NTAP)

Lifeworks Advisors LLC lifted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,475 shares of the data storage provider's stock after purchasing an additional 3,499 shares during the quarter. Lifeworks Advisors LLC's holdings in NetApp were worth $2,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in NetApp by 39.6% in the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock valued at $3,250,000 after acquiring an additional 10,494 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of NetApp in the 4th quarter valued at $5,151,000. Achmea Investment Management B.V. increased its holdings in shares of NetApp by 55.8% in the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock valued at $19,492,000 after acquiring an additional 79,457 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of NetApp during the 1st quarter worth approximately $321,000. Finally, Vanguard Group Inc. lifted its position in NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock valued at $3,069,617,000 after acquiring an additional 429,343 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Insiders Place Their Bets

In other news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the completion of the sale, the chief accounting officer owned 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $106.84, for a total transaction of $106,840.00. Following the completion of the sale, the executive vice president directly owned 24,251 shares in the company, valued at $2,590,976.84. This trade represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,302 shares of company stock worth $1,920,479. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

NTAP has been the topic of a number of recent research reports. UBS Group dropped their price objective on shares of NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Citigroup boosted their target price on NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Evercore ISI lowered their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Wedbush reiterated a "neutral" rating and set a $110.00 price target on shares of NetApp in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. raised their target price on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $118.86.

NetApp Stock Performance

Shares of NetApp stock traded up $1.78 during trading on Monday, hitting $106.72. 385,380 shares of the stock were exchanged, compared to its average volume of 2,085,664. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The company has a fifty day moving average price of $103.77 and a 200-day moving average price of $102.31. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

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

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, July 3rd. NetApp's payout ratio is 36.62%.

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.