2,537 Shares in NetApp, Inc. (NASDAQ:NTAP) Purchased by DGS Capital Management LLC

DGS Capital Management LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,537 shares of the data storage provider’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in NetApp by 70.3% in the 1st quarter. Wellington Management Group LLP now owns 8,329,363 shares of the data storage provider’s stock worth $691,339,000 after purchasing an additional 3,439,053 shares in the last quarter. Norges Bank purchased a new position in NetApp in the 4th quarter worth about $138,383,000. AQR Capital Management LLC increased its stake in NetApp by 291.7% in the 1st quarter. AQR Capital Management LLC now owns 1,040,846 shares of the data storage provider’s stock worth $65,428,000 after purchasing an additional 775,136 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in NetApp by 83.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,577,675 shares of the data storage provider’s stock worth $100,735,000 after purchasing an additional 716,604 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in NetApp by 689.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 804,237 shares of the data storage provider’s stock worth $61,026,000 after purchasing an additional 702,391 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Up 0.2 %

NTAP opened at $102.54 on Wednesday. The business has a 50 day moving average price of $98.33 and a 200 day moving average price of $88.10. NetApp, Inc. has a twelve month low of $60.92 and a twelve month high of $112.48. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. The firm has a market cap of $21.16 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned $1.02 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts forecast that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.95%. NetApp’s dividend payout ratio (DPR) is currently 45.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Raymond James restated a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. UBS Group raised their price objective on NetApp from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. StockNews.com lowered NetApp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Stifel Nicolaus restated a “buy” rating and set a $120.00 price objective (up from $105.00) on shares of NetApp in a research report on Friday, March 1st. Finally, Evercore ISI raised their price objective on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, NetApp has a consensus rating of “Hold” and an average target price of $97.94.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total value of $862,240.00. Following the completion of the transaction, the chief executive officer now directly owns 261,202 shares in the company, valued at $26,496,330.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,871 shares of company stock worth $3,262,645. 0.37% of the stock is currently owned by insiders.

NetApp 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.