Aviso Wealth Management Has $681,000 Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Aviso Wealth Management reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,511 shares of the data storage provider’s stock after selling 638 shares during the quarter. Aviso Wealth Management’s holdings in NetApp were worth $681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in NetApp by 59.6% during the second quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after purchasing an additional 613,583 shares during the last quarter. TCW Group Inc. bought a new stake in shares of NetApp in the second quarter valued at approximately $56,313,000. Acadian Asset Management LLC raised its position in shares of NetApp by 17.5% in the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock valued at $359,517,000 after purchasing an additional 416,233 shares during the period. APG Asset Management US Inc. bought a new stake in shares of NetApp in the second quarter valued at approximately $48,074,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in NetApp by 38.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after acquiring an additional 342,415 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

Shares of NetApp stock opened at $117.21 on Monday. NetApp, Inc. has a 52-week low of $76.41 and a 52-week high of $135.01. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. The company has a fifty day moving average of $121.17 and a 200-day moving average of $122.11. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business posted $0.84 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. NetApp’s dividend payout ratio is currently 40.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NTAP. Citigroup upped their target price on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Susquehanna reaffirmed a “positive” rating and set a $155.00 target price on shares of NetApp in a report on Monday, August 26th. Barclays boosted their price target on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Oppenheimer started coverage on shares of NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Finally, Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $129.06.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $126.20, for a total transaction of $88,971.00. Following the sale, the executive vice president now directly owns 11,694 shares in the company, valued at $1,475,782.80. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock worth $1,369,172 in the last three months. 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.