11,832 Shares in NetApp, Inc. $NTAP Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,832 shares of the data storage provider’s stock, valued at approximately $1,831,000.

Several other large investors also recently made changes to their positions in NTAP. Park Square Financial Group LLC raised its holdings in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc bought a new position in shares of NetApp in the fourth quarter worth $30,000. DV Equities LLC bought a new position in shares of NetApp in the fourth quarter worth $30,000. Roble Belko & Company Inc acquired a new position in shares of NetApp during the first quarter valued at $31,000. Finally, Torren Management LLC bought a new stake in shares of NetApp during the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 1.9%

Shares of NTAP stock opened at $187.02 on Friday. The stock has a 50-day simple moving average of $175.90 and a 200 day simple moving average of $138.03. The stock has a market capitalization of $36.70 billion, a P/E ratio of 29.41, a P/E/G ratio of 3.33 and a beta of 1.45. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $209.06. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $1.93 earnings per share. NetApp’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that NetApp, Inc. will post 7.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTAP. UBS Group reiterated a “neutral” rating and issued a $160.00 target price on shares of NetApp in a research report on Friday, May 29th. Citigroup boosted their price target on shares of NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. upped their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price objective on shares of NetApp in a report on Tuesday, June 2nd. Finally, Susquehanna raised their price objective on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $179.77.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 225 shares of NetApp stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president directly owned 30,297 shares in the company, valued at $5,872,164.54. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,297 shares of company stock worth $8,758,016 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

NetApp Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.