Freestone Capital Holdings LLC Invests $5.59 Million in NetApp Inc. (NTAP)

Freestone Capital Holdings LLC bought a new position in shares of NetApp Inc. (NASDAQ:NTAP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 93,684 shares of the data storage provider’s stock, valued at approximately $5,590,000.

Several other hedge funds have also recently bought and sold shares of the company. Pensionfund DSM Netherlands acquired a new position in shares of NetApp during the 4th quarter worth about $1,671,000. First Trust Advisors LP raised its position in shares of NetApp by 34.9% during the 4th quarter. First Trust Advisors LP now owns 2,975,676 shares of the data storage provider’s stock worth $177,559,000 after purchasing an additional 769,122 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of NetApp by 15.3% during the 3rd quarter. Federated Investors Inc. PA now owns 584,780 shares of the data storage provider’s stock worth $50,227,000 after purchasing an additional 77,411 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of NetApp by 1.1% during the 3rd quarter. Great Lakes Advisors LLC now owns 67,985 shares of the data storage provider’s stock worth $5,839,000 after purchasing an additional 723 shares during the last quarter. Finally, Pensionfund Sabic acquired a new position in shares of NetApp during the 4th quarter worth about $1,253,000. 92.40% of the stock is currently owned by institutional investors and hedge funds.

Get NetApp alerts:

Shares of NASDAQ NTAP opened at $66.22 on Monday. The company has a market cap of $16.31 billion, a PE ratio of 22.15, a PEG ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.56 and a quick ratio of 1.53. NetApp Inc. has a 1 year low of $54.50 and a 1 year high of $88.08.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, February 13th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.05. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.60 billion. NetApp had a net margin of 16.85% and a return on equity of 60.32%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. On average, sell-side analysts expect that NetApp Inc. will post 4.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.42%. NetApp’s payout ratio is currently 53.51%.

Several research analysts recently weighed in on NTAP shares. Cross Research upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Morgan Stanley increased their price objective on shares of NetApp from $70.00 to $72.00 and gave the company a “weight” rating in a report on Thursday, November 15th. Wolfe Research started coverage on shares of NetApp in a report on Tuesday, December 11th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, December 3rd. Finally, DA Davidson set a $100.00 price objective on shares of NetApp and gave the company a “buy” rating in a report on Thursday, November 15th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $77.16.

In related news, EVP Henri P. Richard sold 5,050 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $66.01, for a total transaction of $333,350.50. Following the completion of the transaction, the executive vice president now owns 56,707 shares of the company’s stock, valued at approximately $3,743,229.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joel D. Reich sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $64.04, for a total transaction of $1,280,800.00. Following the transaction, the vice president now directly owns 744 shares of the company’s stock, valued at approximately $47,645.76. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Freestone Capital Holdings LLC Invests $5.59 Million in NetApp Inc. (NTAP)” was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.tickerreport.com/banking-finance/4195536/freestone-capital-holdings-llc-invests-5-59-million-in-netapp-inc-ntap.html.

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.

Featured Story: Current Ratio

Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp Inc. (NASDAQ:NTAP).