Wealth Enhancement Advisory Services LLC Has $4.56 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,950 shares of the data storage provider's stock after buying an additional 3,196 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in NetApp were worth $4,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC bought a new stake in shares of NetApp during the 4th quarter valued at about $32,000. Itau Unibanco Holding S.A. boosted its position in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of 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 in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of NetApp during the 4th quarter valued at about $36,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. UBS Group cut their target price on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. cut their target price on NetApp from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company cut their target price on NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Finally, Loop Capital cut their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $117.79.

NetApp Stock Down 0.9%

NTAP stock opened at $105.18 on Thursday. The company has a market cap of $21.07 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The stock's 50 day simple moving average is $97.17 and its 200 day simple moving average is $104.55. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25.

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, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. On average, research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is presently 36.62%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. This represents a 62.28% 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, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 455 shares of the company's stock, valued at approximately $44,940.35. This represents a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,998 shares of company stock valued at $3,366,108 over the last ninety days. 0.47% of the stock is currently owned by insiders.

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.

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