Measured Wealth Private Client Group LLC Has $668,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Measured Wealth Private Client Group LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 59.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,752 shares of the data storage provider’s stock after buying an additional 2,155 shares during the period. Measured Wealth Private Client Group LLC’s holdings in NetApp were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its stake in NetApp by 1.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 120,470 shares of the data storage provider’s stock worth $13,984,000 after buying an additional 1,282 shares during the last quarter. Meritage Portfolio Management grew its holdings in NetApp by 129.1% during the 4th quarter. Meritage Portfolio Management now owns 69,381 shares of the data storage provider’s stock worth $8,054,000 after acquiring an additional 39,097 shares during the period. Choreo LLC raised its position in shares of NetApp by 16.6% in the 4th quarter. Choreo LLC now owns 4,336 shares of the data storage provider’s stock worth $505,000 after acquiring an additional 618 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NetApp by 39.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,277 shares of the data storage provider’s stock valued at $5,749,000 after purchasing an additional 13,923 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of NetApp by 546.8% during the 4th quarter. Retirement Systems of Alabama now owns 289,504 shares of the data storage provider’s stock valued at $33,606,000 after purchasing an additional 244,746 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 0.3 %

Shares of NetApp stock opened at $124.04 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a fifty day simple moving average of $120.95 and a 200 day simple moving average of $122.14. NetApp, Inc. has a 12-month low of $83.80 and a 12-month high of $135.45. The company has a market capitalization of $25.22 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.52 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. NetApp’s payout ratio is presently 38.24%.

Analyst Ratings Changes

A number of brokerages have weighed in on NTAP. Northland Securities lifted their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Wells Fargo & Company lifted their price objective on shares of NetApp from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. StockNews.com upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th. Barclays raised their price target on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Finally, Bank of America upped their price objective on shares of NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.20.

Insider Activity

In related news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,110 shares of company stock valued at $7,632,601 over the last three months. Corporate insiders own 0.47% of the company’s stock.

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.