Charles Schwab Investment Management Inc. Grows Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Charles Schwab Investment Management Inc. increased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,808,051 shares of the data storage provider's stock after purchasing an additional 24,416 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.88% of NetApp worth $159,398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mission Wealth Management LP boosted its position in NetApp by 3.3% during the 4th quarter. Mission Wealth Management LP now owns 3,639 shares of the data storage provider's stock worth $321,000 after acquiring an additional 115 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of NetApp by 58.7% during the 4th quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider's stock valued at $27,000 after buying an additional 115 shares during the last quarter. Lindbrook Capital LLC raised its position in NetApp by 10.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,336 shares of the data storage provider's stock valued at $118,000 after acquiring an additional 123 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of NetApp by 0.3% during the 4th quarter. Hennessy Advisors Inc. now owns 41,209 shares of the data storage provider's stock valued at $3,633,000 after purchasing an additional 134 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in NetApp by 40.4% during the third quarter. Huntington National Bank now owns 490 shares of the data storage provider's stock valued at $37,000 after acquiring an additional 141 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the topic of several recent analyst reports. Argus raised NetApp from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a research report on Monday, March 4th. Evercore ISI lifted their price objective on NetApp from $95.00 to $105.00 and gave the stock an "in-line" rating in a report on Friday, March 1st. Citigroup raised their price objective on shares of NetApp from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, March 5th. StockNews.com downgraded NetApp from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. lifted their price objective on NetApp from $87.00 to $95.00 and gave the company an "underweight" rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $100.60.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O'callahan sold 871 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the transaction, the executive vice president now directly owns 9,601 shares in the company, valued at $989,095.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Elizabeth M. O'callahan sold 871 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the transaction, the executive vice president now owns 9,601 shares of the company's stock, valued at $989,095.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $101.44, for a total transaction of $862,240.00. Following the completion of the transaction, the chief executive officer now owns 261,202 shares of the company's stock, valued at $26,496,330.88. The disclosure for this sale can be found here. Insiders sold 40,371 shares of company stock worth $4,139,505 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

NetApp Stock Up 0.3 %

NTAP traded up $0.32 on Friday, hitting $108.50. 1,702,987 shares of the company were exchanged, compared to its average volume of 1,855,517. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. The stock's fifty day moving average is $103.50 and its 200-day moving average is $91.10. NetApp, Inc. has a 12 month low of $62.42 and a 12 month high of $112.48. The company has a market cap of $22.39 billion, a PE ratio of 24.59, a PEG ratio of 2.18 and a beta of 1.27.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors 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 annualized dividend and a dividend yield of 1.84%. NetApp's dividend payout ratio (DPR) is presently 45.45%.

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.