Checchi Capital Advisers LLC Acquires Shares of 2,335 NetApp Inc. (NTAP)

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Checchi Capital Advisers LLC acquired a new stake in NetApp Inc. (NASDAQ:NTAP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,335 shares of the data storage provider’s stock, valued at approximately $201,000.

Several other hedge funds have also recently added to or reduced their stakes in NTAP. Commonwealth Equity Services LLC boosted its position in shares of NetApp by 15.7% in the first quarter. Commonwealth Equity Services LLC now owns 5,618 shares of the data storage provider’s stock valued at $346,000 after acquiring an additional 762 shares during the period. LPL Financial LLC lifted its position in NetApp by 27.9% during the first quarter. LPL Financial LLC now owns 18,100 shares of the data storage provider’s stock valued at $1,117,000 after purchasing an additional 3,947 shares during the last quarter. Royal Bank of Canada lifted its position in NetApp by 8.0% during the first quarter. Royal Bank of Canada now owns 169,634 shares of the data storage provider’s stock valued at $10,466,000 after purchasing an additional 12,630 shares during the last quarter. DnB Asset Management AS bought a new stake in NetApp during the second quarter valued at approximately $2,756,000. Finally, IFM Investors Pty Ltd lifted its position in NetApp by 36.5% during the second quarter. IFM Investors Pty Ltd now owns 13,419 shares of the data storage provider’s stock valued at $1,054,000 after purchasing an additional 3,590 shares during the last quarter. Institutional investors own 95.59% of the company’s stock.

Several equities research analysts have issued reports on NTAP shares. Guggenheim started coverage on shares of NetApp in a research report on Thursday, July 12th. They set a “buy” rating and a $94.00 target price for the company. DA Davidson reiterated a “buy” rating and set a $90.00 target price (up from $83.00) on shares of NetApp in a research report on Monday, July 9th. Argus lifted their target price on shares of NetApp to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 5th. They noted that the move was a valuation call. BidaskClub lowered shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Finally, Bank of America lifted their target price on shares of NetApp from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $81.17.

In other NetApp news, EVP Henri P. Richard sold 2,525 shares of NetApp stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $79.60, for a total transaction of $200,990.00. Following the transaction, the executive vice president now directly owns 70,732 shares of the company’s stock, valued at $5,630,267.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 11,435 shares of NetApp stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $78.46, for a total transaction of $897,190.10. Following the transaction, the chief executive officer now directly owns 12,044 shares in the company, valued at $944,972.24. The disclosure for this sale can be found here. Insiders have sold 121,451 shares of company stock worth $10,109,334 over the last three months. Insiders own 0.19% of the company’s stock.

NTAP stock opened at $76.56 on Wednesday. The company has a market cap of $18.62 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. NetApp Inc. has a one year low of $43.56 and a one year high of $88.08. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.80.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.80 by $0.24. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. NetApp had a net margin of 3.68% and a return on equity of 41.75%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. On average, analysts anticipate that NetApp Inc. will post 3.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, October 4th. NetApp’s dividend payout ratio (DPR) is presently 53.51%.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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