23,342 Shares in NetApp, Inc. (NASDAQ:NTAP) Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. purchased a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,342 shares of the data storage provider's stock, valued at approximately $2,050,000.

Several other large investors have also bought and sold shares of the business. Assetmark Inc. grew its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in NetApp in the fourth quarter valued at about $32,000. Itau Unibanco Holding S.A. increased its position in NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after purchasing an additional 251 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after acquiring an additional 100 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in NetApp in the 4th quarter valued at approximately $36,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 302 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the sale, the chief accounting officer now directly owns 455 shares in the company, valued at approximately $44,940.35. This represents a 39.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anders Gustafsson purchased 2,800 shares of the stock in a transaction on Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the acquisition, the director now owns 6,348 shares in the company, valued at approximately $577,668. This represents a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 28,498 shares of company stock worth $2,500,978 over the last three months. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Up 3.7%

Shares of NTAP traded up $3.71 during trading hours on Monday, hitting $104.20. 2,113,857 shares of the company were exchanged, compared to its average volume of 1,937,973. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The company has a market cap of $20.88 billion, a PE ratio of 19.15, a PEG ratio of 2.45 and a beta of 1.42. The firm's 50 day moving average is $93.75 and its 200-day moving average is $105.52. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $1.80 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's payout ratio is presently 36.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on NTAP shares. Loop Capital dropped their price target on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. TD Cowen decreased their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Wall Street Zen cut NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Evercore ISI cut their price target on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Finally, Citigroup lifted their price target on shares of NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, NetApp currently has an average rating of "Hold" and a consensus price target of $117.79.

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.