Crossmark Global Holdings Inc. Has $20.83 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Crossmark Global Holdings Inc. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,680 shares of the data storage provider’s stock after purchasing an additional 12,285 shares during the period. Crossmark Global Holdings Inc.’s holdings in NetApp were worth $20,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of NetApp in the 2nd quarter valued at approximately $26,000. J.Safra Asset Management Corp increased its stake in shares of NetApp by 706.3% during the 1st quarter. J.Safra Asset Management Corp now owns 258 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 226 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of NetApp during the 3rd quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of NetApp in the 1st quarter valued at $28,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of NetApp in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP traded up $1.18 during midday trading on Friday, reaching $124.01. 1,367,649 shares of the company’s stock were exchanged, compared to its average volume of 1,341,136. The firm has a market capitalization of $25.40 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 4.55 and a beta of 1.24. The company’s 50 day simple moving average is $121.01 and its two-hundred day simple moving average is $121.17. NetApp, Inc. has a 12 month low of $75.32 and a 12 month high of $135.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Equities research analysts expect that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. NetApp’s dividend payout ratio is presently 40.62%.

Insider Transactions at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the sale, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America boosted their price target on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Evercore ISI upped their target price on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their price target on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays raised their target price on shares of NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Finally, Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $129.06.

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.