ABLE Financial Group LLC Has $1.47 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

ABLE Financial Group LLC raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 36.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,674 shares of the data storage provider's stock after acquiring an additional 3,363 shares during the period. ABLE Financial Group LLC's holdings in NetApp were worth $1,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTAP. Resonant Capital Advisors LLC lifted its stake in NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after buying an additional 80 shares in the last quarter. Larson Financial Group LLC grew its holdings in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after buying an additional 92 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after buying an additional 100 shares during the last quarter. Moors & Cabot Inc. grew its holdings in NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after buying an additional 100 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in 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 buying an additional 100 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This trade represents a 62.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,724 shares of company stock worth $2,520,032 in the last 90 days. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Performance

Shares of NTAP traded down $0.46 during mid-day trading on Thursday, hitting $99.21. The company's stock had a trading volume of 3,936,311 shares, compared to its average volume of 1,923,661. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The stock's 50-day moving average is $90.02 and its two-hundred day moving average is $107.41. The firm has a market capitalization of $20.18 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating 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%. During the same quarter last year, the company earned $1.80 earnings per share. NetApp's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.10%. NetApp's dividend payout ratio is currently 38.52%.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of analyst reports. Wall Street Zen cut NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Loop Capital decreased their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company decreased their price objective on NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Barclays upgraded NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price objective on the stock in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, NetApp has an average rating of "Hold" and an average price target of $121.40.

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.