NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,808,051 shares of the data storage provider’s stock after purchasing an additional 24,416 shares during the period. Charles Schwab Investment Management Inc.’s holdings in NetApp were worth $159,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC raised its position in shares of NetApp by 14,650.0% during the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after acquiring an additional 293 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of NetApp by 58.7% in 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 in the last quarter. UMB Bank n.a. raised its stake in NetApp by 82.9% during the 4th quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Larson Financial Group LLC acquired a new position in NetApp in the third quarter valued at $27,000. Finally, Planned Solutions Inc. purchased a new position in shares of NetApp during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

NetApp stock opened at $108.18 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. NetApp, Inc. has a one year low of $62.29 and a one year high of $112.48. The company has a market cap of $22.33 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 2.18 and a beta of 1.27. The business has a fifty day moving average of $103.50 and a two-hundred day moving average of $91.10.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that NetApp, Inc. will post 5.16 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp’s dividend payout ratio (DPR) is 45.45%.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 price target (up previously from $105.00) on shares of NetApp in a research report on Friday, March 1st. Raymond James reiterated a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. Barclays raised their price objective on shares of NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their target price on shares of NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Finally, TD Cowen raised their price target on NetApp from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. One research 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. Based on data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $100.60.

Insider Buying and Selling

In related news, CFO Michael J. Berry sold 7,500 shares of NetApp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total transaction of $770,625.00. Following the completion of the transaction, the chief financial officer now directly owns 152,409 shares of the company’s stock, valued at $15,660,024.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the completion of the transaction, the chief financial officer now directly owns 152,409 shares in the company, valued at approximately $15,660,024.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.67, for a total transaction 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 approximately $14,877,807.03. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock worth $4,139,505 in the last quarter. Company insiders own 0.37% of the company’s stock.

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.