Sanctuary Advisors LLC Invests $1.46 Million in NetApp, Inc. $NTAP

Sanctuary Advisors LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, Holdings Channel.com reports. The fund bought 9,414 shares of the data storage provider’s stock, valued at approximately $1,457,000.

A number of other large investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its position in shares of NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of NetApp during the 2nd quarter valued at approximately $315,000. Cerity Partners LLC lifted its position in shares of NetApp by 9.9% during the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after buying an additional 4,232 shares in the last quarter. Bank of Nova Scotia grew its stake in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after acquiring an additional 1,662 shares during the period. Finally, NewEdge Advisors LLC grew its stake in NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after acquiring an additional 2,277 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $171.09, for a total transaction of $38,495.25. Following the completion of the sale, the chief accounting officer owned 1,090 shares of the company’s stock, valued at approximately $186,488.10. The trade was a 17.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,297 shares of company stock worth $8,758,016 over the last three months. Insiders own 0.36% of the company’s stock.

NetApp Stock Up 3.4%

NASDAQ NTAP opened at $193.85 on Thursday. The business has a fifty day moving average price of $174.74 and a 200 day moving average price of $137.07. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The company has a market cap of $38.04 billion, a P/E ratio of 30.48, a P/E/G ratio of 3.35 and a beta of 1.45. NetApp, Inc. has a one year low of $93.69 and a one year high of $209.06.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the firm earned $1.93 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts anticipate that NetApp, Inc. will post 7.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on NTAP shares. Northland Securities upped their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Citigroup boosted their target price on shares of NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. upped their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Susquehanna raised their price target on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $179.77.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.