Sachetta LLC Has $268,000 Stake in NetApp, Inc. $NTAP

Sachetta LLC cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 22.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,515 shares of the data storage provider’s stock after selling 749 shares during the quarter. Sachetta LLC’s holdings in NetApp were worth $268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Manchester Capital Management LLC lifted its stake in shares of NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC bought a new position in NetApp during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC acquired a new position in shares of NetApp in the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of NetApp during the first quarter worth $36,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NTAP. Wedbush restated a “neutral” rating and issued a $150.00 target price on shares of NetApp in a report on Thursday, August 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research note on Saturday, September 27th. Argus restated a “buy” rating and set a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. Barclays lifted their target price on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Northland Securities increased their price target on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $124.07.

NetApp Stock Up 1.4%

NTAP stock opened at $120.42 on Tuesday. The stock’s 50 day simple moving average is $114.64 and its 200 day simple moving average is $103.01. The company has a market cap of $24.04 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares in the company, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,529 shares of company stock valued at $3,350,714. 0.28% of the stock is owned by company 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.