Aviso Wealth Management Reduces Holdings in NetApp, Inc. (NASDAQ:NTAP)

Aviso Wealth Management decreased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,511 shares of the data storage provider’s stock after selling 638 shares during the period. Aviso Wealth Management’s holdings in NetApp were worth $681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC raised its stake in NetApp by 24.5% during the 3rd quarter. Quest Partners LLC now owns 9,461 shares of the data storage provider’s stock worth $1,169,000 after acquiring an additional 1,864 shares during the period. Thrivent Financial for Lutherans raised its stake in NetApp by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 92,817 shares of the data storage provider’s stock worth $11,463,000 after acquiring an additional 592 shares during the period. Gladius Capital Management LP bought a new stake in shares of NetApp during the third quarter valued at approximately $319,000. Seizert Capital Partners LLC raised its position in shares of NetApp by 2.0% during the third quarter. Seizert Capital Partners LLC now owns 456,444 shares of the data storage provider’s stock valued at $56,375,000 after buying an additional 8,944 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of NetApp by 66.0% during the third quarter. Natixis Advisors LLC now owns 72,137 shares of the data storage provider’s stock valued at $8,910,000 after buying an additional 28,693 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 0.7 %

NetApp stock opened at $117.21 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The firm has a market cap of $24.00 billion, a PE ratio of 22.89, a P/E/G ratio of 3.01 and a beta of 1.24. The stock’s 50 day simple moving average is $121.17 and its two-hundred day simple moving average is $122.11. NetApp, Inc. has a 12 month low of $76.41 and a 12 month high of $135.01.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts anticipate that NetApp, Inc. will post 5.71 earnings per share for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Friday, October 4th. NetApp’s dividend payout ratio is currently 40.62%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NTAP. JPMorgan Chase & Co. lifted their price objective on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. UBS Group lifted their price objective on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and boosted their target price for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a report on Monday, August 26th. Finally, Barclays upped their price objective on shares of NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, NetApp has an average rating of “Hold” and an average price target of $129.06.

Insiders Place Their Bets

In related news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of 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 trade represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock valued at $1,369,172 in the last three months. 0.47% of the stock is currently owned by 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.