NBC Securities Inc. Grows Stock Position in NetApp, Inc. (NASDAQ:NTAP)

NBC Securities Inc. boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 108,500.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,688 shares of the data storage provider's stock after buying an additional 8,680 shares during the quarter. NBC Securities Inc.'s holdings in NetApp were worth $763,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp in the 4th quarter valued at $26,000. Assetmark Inc. boosted its position in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC bought a new stake in NetApp in the fourth quarter worth approximately $32,000. Itau Unibanco Holding S.A. boosted its holdings in NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NTAP shares. Wedbush reiterated a "neutral" rating and set a $110.00 price target on shares of NetApp in a report on Friday, May 30th. Barclays lifted their price target on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Wells Fargo & Company reduced 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. Finally, Susquehanna cut NetApp from a "positive" rating to a "neutral" rating and cut their price objective for the stock from $155.00 to $130.00 in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, NetApp currently has a consensus rating of "Hold" and an average price target of $119.27.

NetApp Stock Up 0.8%

NASDAQ:NTAP traded up $0.84 during trading hours on Thursday, reaching $104.60. The company's stock had a trading volume of 2,673,662 shares, compared to its average volume of 1,924,257. The company has a market capitalization of $21.28 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock has a 50 day moving average price of $90.87 and a two-hundred day moving average price of $106.76.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $1.80 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. 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 will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's dividend payout ratio is currently 36.62%.

Insiders Place Their Bets

In related news, Director Anders Gustafsson purchased 2,800 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $91.00 per share, with a total value of $254,800.00. Following the purchase, the director now owns 6,348 shares of the company's stock, valued at $577,668. This represents a 78.92% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer now directly owns 455 shares in the company, valued at $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,026 shares of company stock valued at $2,549,860. Company 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.