Ieq Capital LLC Increases Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Ieq Capital LLC increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 25.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,844 shares of the data storage provider’s stock after acquiring an additional 3,840 shares during the quarter. Ieq Capital LLC’s holdings in NetApp were worth $2,187,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NTAP. Resonant Capital Advisors LLC increased its stake in shares of NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC increased its stake in NetApp by 4.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock worth $340,000 after buying an additional 118 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of NetApp by 2.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock valued at $796,000 after acquiring an additional 128 shares during the last quarter. Finally, DGS Capital Management LLC lifted its position in shares of NetApp by 2.7% in the fourth quarter. DGS Capital Management LLC now owns 4,804 shares of the data storage provider’s stock valued at $558,000 after acquiring an additional 128 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Down 0.1 %

Shares of NetApp stock opened at $124.47 on Monday. The stock has a 50 day moving average of $120.12 and a 200 day moving average of $122.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a fifty-two week low of $85.28 and a fifty-two week high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. As a group, research analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current year.

Analyst Ratings Changes

NTAP has been the subject of several recent research reports. Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research report on Wednesday. Morgan Stanley boosted their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup upped their price objective on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays raised their target price on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $137.33.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the sale, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $120.75, for a total transaction of $54,579.00. Following the transaction, the executive vice president now directly owns 11,553 shares of the company’s stock, valued at $1,395,024.75. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 over the last 90 days. 0.47% of the stock is owned by insiders.

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.