McAdam LLC Buys Shares of 2,472 NetApp, Inc. (NASDAQ:NTAP)

McAdam LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,472 shares of the data storage provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in NetApp by 14,650.0% during the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 293 shares during the period. UMB Bank n.a. boosted 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 valued at $29,000 after purchasing an additional 150 shares during the period. Larson Financial Group LLC acquired a new position in NetApp during the 3rd quarter valued at about $27,000. Planned Solutions Inc. acquired a new position in NetApp during the 4th quarter valued at about $34,000. Finally, First Pacific Financial acquired a new position in NetApp during the 3rd quarter valued at about $29,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTAP. Wedbush upped their price target on shares of NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Barclays upped their price target on shares of NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Citigroup upped their price target on shares of NetApp from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. UBS Group upped their price target on shares of NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Evercore ISI upped their price target on shares of NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.60.

NetApp Stock Down 0.3 %

NTAP stock opened at $102.21 on Wednesday. NetApp, Inc. has a 52-week low of $61.54 and a 52-week high of $112.48. The company’s 50 day simple moving average is $100.88 and its 200-day simple moving average is $89.83. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. The firm has a market capitalization of $21.09 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.26 and a beta of 1.28.

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

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. NetApp’s dividend payout ratio is currently 45.45%.

Insider Activity

In other news, CFO Michael J. Berry sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the sale, the chief financial officer now owns 152,409 shares in the company, valued at $15,660,024.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NetApp news, CFO Michael J. Berry sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total value of $770,625.00. Following the transaction, the chief financial officer now owns 152,409 shares in the company, valued at approximately $15,660,024.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael J. Berry sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now 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 40,371 shares of company stock worth $4,139,505 over the last 90 days. 0.37% of the stock is owned by company insiders.

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.