Impact Partnership Wealth LLC Purchases 508 Shares of NetApp, Inc. (NASDAQ:NTAP)

Impact Partnership Wealth LLC grew its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,876 shares of the data storage provider’s stock after buying an additional 508 shares during the period. Impact Partnership Wealth LLC’s holdings in NetApp were worth $450,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NTAP. Northwest Investment Counselors LLC bought a new position in NetApp during the third quarter worth about $27,000. Hershey Financial Advisers LLC acquired a new position in shares of NetApp during the 2nd quarter worth approximately $45,000. True Wealth Design LLC increased its holdings in shares of NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of NetApp in the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of NetApp in the third quarter valued at approximately $51,000. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the sale, the chief executive officer now owns 271,282 shares of the company’s stock, valued at approximately $33,375,824.46. This represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,610 shares of company stock valued at $6,123,351 over the last ninety days. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent research reports. StockNews.com lowered NetApp from a “buy” rating to a “hold” rating in a research note on Monday, January 20th. Wells Fargo & Company boosted their price target on NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Northland Securities increased their price objective on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 target price for the company in a research report on Monday, December 16th. Finally, TD Cowen increased their price target on shares of NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, NetApp has an average rating of “Hold” and an average price target of $139.20.

NetApp Stock Performance

NetApp stock opened at $126.00 on Friday. The business has a 50 day moving average of $121.24 and a 200-day moving average of $122.72. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 1 year low of $83.80 and a 1 year high of $135.45. The company has a market capitalization of $25.62 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.99 and a beta of 1.23.

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

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.52 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.65%. NetApp’s dividend payout ratio (DPR) is 38.24%.

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.