Consilio Wealth Advisors LLC Invests $802,000 in NetApp, Inc. (NASDAQ:NTAP)

Consilio Wealth Advisors LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,125 shares of the data storage provider's stock, valued at approximately $802,000.

Several other hedge funds have also added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake 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 worth $438,000 after buying an additional 92 shares during the period. Moors & Cabot Inc. increased 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 worth $337,000 after purchasing an additional 100 shares in the last quarter. Coppell Advisory Solutions LLC increased 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 worth $35,000 after purchasing an additional 100 shares in the last quarter. Utah Retirement Systems increased its holdings in NetApp by 0.3% during the 4th quarter. Utah Retirement Systems now owns 34,152 shares of the data storage provider's stock worth $3,964,000 after purchasing an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in NetApp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock worth $534,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 302 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the sale, the chief accounting officer now owns 455 shares in the company, valued at $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,026 shares of company stock worth $2,549,860 over the last quarter. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their target price on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. JPMorgan Chase & Co. lowered their target price on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Wedbush reiterated a "neutral" rating and set a $110.00 target price on shares of NetApp in a report on Friday, May 30th. Wall Street Zen cut NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Susquehanna cut NetApp from a "positive" rating to a "neutral" rating and lowered their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, NetApp presently has an average rating of "Hold" and a consensus price target of $117.79.

NetApp Stock Performance

NetApp stock traded up $1.65 during midday trading on Friday, reaching $106.25. 2,872,672 shares of the company's stock were exchanged, compared to its average volume of 1,924,373. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. 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 firm has a market cap of $21.61 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.45 and a beta of 1.40. The stock's 50-day simple moving average is $91.21 and its 200 day simple moving average is $106.66.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings results 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 return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the company posted $1.80 earnings per share. NetApp's quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, July 3rd. NetApp's payout ratio is currently 36.62%.

NetApp Company 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.