Pathstone Holdings LLC Sells 292 Shares of NetApp, Inc. (NASDAQ:NTAP)

Pathstone Holdings LLC lowered its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,049 shares of the data storage provider’s stock after selling 292 shares during the period. Pathstone Holdings LLC’s holdings in NetApp were worth $2,106,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in NetApp during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of NetApp during the third quarter worth about $27,000. Redwood Wealth Management Group LLC acquired a new position in shares of NetApp in the second quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new stake in NetApp in the first quarter valued at approximately $28,000. Finally, Robbins Farley acquired a new stake in NetApp during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NTAP shares. UBS Group boosted their price target on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer started coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. TD Cowen increased their price target on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Evercore ISI boosted their price objective on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus raised their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $134.00.

NetApp Trading Up 2.7 %

NTAP opened at $129.60 on Wednesday. NetApp, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $135.45. The firm has a market capitalization of $26.54 billion, a PE ratio of 23.82, a P/E/G ratio of 3.15 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The company’s 50-day moving average is $122.25 and its 200 day moving average is $122.96.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion for 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%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts predict that NetApp, Inc. will post 5.71 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s payout ratio is currently 38.24%.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $118.00, for a total value of $1,003,000.00. Following the completion of the transaction, the chief executive officer now directly owns 288,282 shares of the company’s stock, valued at $34,017,276. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of NetApp stock in a transaction on 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. Over the last ninety days, insiders have sold 23,049 shares of company stock worth $2,807,851. 0.47% of the stock is 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.