Park Avenue Securities LLC Has $1.69 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Park Avenue Securities LLC boosted its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 46.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,286 shares of the data storage provider's stock after acquiring an additional 6,118 shares during the quarter. Park Avenue Securities LLC's holdings in NetApp were worth $1,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in NetApp by 2.5% in the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after acquiring an additional 92 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of NetApp by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after buying an additional 100 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Utah Retirement Systems increased its holdings in NetApp by 0.3% in the 4th quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider's stock worth $3,964,000 after buying an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock worth $534,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Price Performance

NTAP traded up $0.49 on Thursday, reaching $103.12. The company had a trading volume of 416,058 shares, compared to its average volume of 1,923,067. The company has a fifty day moving average of $92.74 and a 200-day moving average of $106.11. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $20.98 billion, a P/E ratio of 18.96, a PEG ratio of 2.45 and a beta of 1.42. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.80 EPS. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is presently 36.62%.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of the company'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 sale, the chief accounting officer now directly owns 455 shares in the company, valued at approximately $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,498 shares of company stock valued at $2,500,978 over the last three months. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NTAP shares. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research note on Tuesday, May 20th. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital dropped their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. TD Cowen decreased their price target on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $117.79.

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.