NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Paradiem LLC

Paradiem LLC grew its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 33.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,131 shares of the data storage provider's stock after purchasing an additional 22,940 shares during the period. NetApp comprises 2.3% of Paradiem LLC's portfolio, making the stock its 6th largest holding. Paradiem LLC's holdings in NetApp were worth $8,122,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in NetApp by 14,650.0% during the fourth quarter. ORG Partners LLC now owns 295 shares of the data storage provider's stock valued at $26,000 after purchasing an additional 293 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of NetApp in the third quarter valued at approximately $27,000. First Pacific Financial bought a new stake in shares of NetApp in the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its position in shares of NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider's stock valued at $29,000 after acquiring an additional 150 shares during the period. Finally, Planned Solutions Inc. bought a new stake in shares of NetApp in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Price Performance

Shares of NASDAQ:NTAP traded up $0.39 during midday trading on Friday, reaching $101.33. The company's stock had a trading volume of 2,124,805 shares, compared to its average volume of 1,401,973. NetApp, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $112.48. The company has a market capitalization of $20.91 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.24 and a beta of 1.28. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. The business's fifty day simple moving average is $100.21 and its 200-day simple moving average is $89.45.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $1.02 earnings per share. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.97%. NetApp's dividend payout ratio (DPR) is presently 45.45%.

Analysts Set New Price Targets

NTAP has been the subject of several research reports. Argus raised NetApp from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a research report on Monday, March 4th. TD Cowen raised their target price on NetApp from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Raymond James reaffirmed a "market perform" rating on shares of NetApp in a research report on Tuesday, January 16th. Evercore ISI raised their target price on NetApp from $95.00 to $105.00 and gave the stock an "in-line" rating in a research report on Friday, March 1st. Finally, Citigroup raised their target price on NetApp from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and a consensus target price of $100.60.

Insider Activity

In related news, CFO Michael J. Berry sold 7,500 shares of NetApp stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the sale, the chief financial officer now directly owns 152,409 shares in the company, valued at $15,660,024.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Michael J. Berry sold 15,000 shares of NetApp stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.67, for a total value of $1,540,050.00. Following the completion of the sale, the chief financial officer now directly owns 144,909 shares in the company, valued at $14,877,807.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael J. Berry sold 7,500 shares of NetApp stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the sale, the chief financial officer now owns 152,409 shares of the company's stock, valued at $15,660,024.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,371 shares of company stock worth $4,139,505. 0.37% of the stock is 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.