J. W. Coons Advisors LLC Acquires 290 Shares of NetApp, Inc. (NASDAQ:NTAP)

J. W. Coons Advisors LLC grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,936 shares of the data storage provider’s stock after purchasing an additional 290 shares during the quarter. J. W. Coons Advisors LLC’s holdings in NetApp were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp during the fourth quarter worth about $26,000. Golden State Wealth Management LLC bought a new position in NetApp during the fourth quarter worth about $35,000. True Wealth Design LLC boosted its position in NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares during the period. Capital Performance Advisors LLP bought a new position in NetApp during the third quarter worth about $44,000. Finally, Ashton Thomas Securities LLC bought a new position in NetApp during the third quarter worth about $51,000. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 0.1 %

NTAP stock opened at $124.47 on Monday. The company has a market capitalization of $25.31 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a one year low of $85.28 and a one year high of $135.45. The company’s 50 day moving average price is $120.12 and its two-hundred day moving average price is $122.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. As a group, analysts predict that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the transaction, the chief executive officer now directly owns 266,765 shares in the company, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Northland Securities raised their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Barclays raised their price objective on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Oppenheimer initiated coverage on shares of NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. Finally, Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $137.33.

NetApp Company 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.