Shelton Capital Management Purchases 11,424 Shares of NetApp, Inc. (NASDAQ:NTAP)

Shelton Capital Management boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 30.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,124 shares of the data storage provider's stock after purchasing an additional 11,424 shares during the quarter. Shelton Capital Management's holdings in NetApp were worth $3,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Toronto Dominion Bank increased its stake in shares of NetApp by 20.1% in the 1st quarter. Toronto Dominion Bank now owns 179,059 shares of the data storage provider's stock valued at $11,428,000 after acquiring an additional 29,938 shares during the last quarter. Heron Bay Capital Management increased its stake in shares of NetApp by 22.5% in the 1st quarter. Heron Bay Capital Management now owns 57,900 shares of the data storage provider's stock valued at $3,697,000 after acquiring an additional 10,640 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of NetApp by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,439 shares of the data storage provider's stock valued at $539,000 after acquiring an additional 550 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of NetApp by 12.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the data storage provider's stock valued at $93,000 after acquiring an additional 159 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of NetApp by 31.3% in the 1st quarter. Cerity Partners LLC now owns 13,647 shares of the data storage provider's stock valued at $871,000 after acquiring an additional 3,256 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

NASDAQ NTAP opened at $76.42 on Wednesday. The company has a market cap of $16.23 billion, a PE ratio of 13.82, a PEG ratio of 2.13 and a beta of 1.23. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 2.74. NetApp, Inc. has a 12 month low of $58.08 and a 12 month high of $80.53. The stock has a 50 day moving average of $76.89 and a 200-day moving average of $69.63.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The data storage provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.07 by $0.08. NetApp had a return on equity of 85.69% and a net margin of 19.49%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that NetApp, Inc. will post 4.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp's dividend payout ratio is 36.17%.

A number of analysts have recently commented on the company. StockNews.com raised NetApp from a "hold" rating to a "buy" rating in a research note on Friday, August 25th. Deutsche Bank Aktiengesellschaft upped their price target on NetApp from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, August 21st. Citigroup increased their target price on NetApp from $80.00 to $83.00 and gave the stock a "neutral" rating in a research note on Thursday, August 24th. Wedbush reissued a "neutral" rating and set a $75.00 target price on shares of NetApp in a research note on Thursday, August 24th. Finally, SpectralCast reissued a "maintains" rating on shares of NetApp in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, NetApp presently has an average rating of "Hold" and a consensus target price of $76.45.

View Our Latest Analysis on NTAP

In other NetApp news, EVP Elizabeth M. O'callahan sold 872 shares of the firm's stock in a transaction on Monday, June 26th. The stock was sold at an average price of $73.58, for a total transaction of $64,161.76. Following the completion of the sale, the executive vice president now owns 13,953 shares of the company's stock, valued at approximately $1,026,661.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NetApp news, CEO George Kurian sold 4,500 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $70.00, for a total transaction of $315,000.00. Following the transaction, the chief executive officer now owns 283,050 shares in the company, valued at approximately $19,813,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O'callahan sold 872 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $73.58, for a total value of $64,161.76. Following the transaction, the executive vice president now owns 13,953 shares in the company, valued at approximately $1,026,661.74. The disclosure for this sale can be found here. Insiders sold 10,744 shares of company stock valued at $798,626 in the last quarter. 0.37% of the stock is currently owned by insiders.

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.

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