Landscape Capital Management L.L.C. Acquires 6,410 Shares of NetApp, Inc. (NASDAQ:NTAP)

Landscape Capital Management L.L.C. raised its stake in NetApp, Inc. (NASDAQ:NTAP) by 83.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,136 shares of the data storage provider’s stock after buying an additional 6,410 shares during the period. Landscape Capital Management L.L.C.’s holdings in NetApp were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of NTAP. Hollencrest Capital Management acquired a new position in shares of NetApp in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of NetApp in the third quarter worth $27,000. New Covenant Trust Company N.A. acquired a new position in NetApp during the 1st quarter worth about $28,000. Redwood Wealth Management Group LLC acquired a new stake in NetApp during the 2nd quarter valued at approximately $32,000. Finally, Crewe Advisors LLC acquired a new stake in shares of NetApp during the first quarter worth $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. This trade represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 23,049 shares of company stock valued at $2,807,851 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

NetApp Trading Up 2.7 %

Shares of NTAP stock opened at $126.75 on Friday. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 3.13 and a beta of 1.24. The stock has a 50 day simple moving average of $121.77 and a 200-day simple moving average of $122.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. NetApp, Inc. has a 1-year low of $77.46 and a 1-year high of $135.01.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. On average, equities research analysts expect that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.64%. NetApp’s payout ratio is 40.63%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NTAP. Stifel Nicolaus lifted their price objective on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays increased their price objective on shares of NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. 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 report on Tuesday, September 3rd. Finally, UBS Group lifted their price target on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $129.06.

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.