DSG Capital Advisors LLC Invests $1.39 Million in NetApp, Inc. (NASDAQ:NTAP)

DSG Capital Advisors LLC bought a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,930 shares of the data storage provider's stock, valued at approximately $1,385,000.

Several other hedge funds have also added to or reduced their stakes in NTAP. Barclays PLC lifted its holdings in shares of NetApp by 31.4% during the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock valued at $96,873,000 after purchasing an additional 187,638 shares in the last quarter. SG Americas Securities LLC increased its position in NetApp by 128.7% during the fourth quarter. SG Americas Securities LLC now owns 6,038 shares of the data storage provider's stock valued at $701,000 after acquiring an additional 27,090 shares during the last quarter. Janney Montgomery Scott LLC increased its position in NetApp by 10.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,940 shares of the data storage provider's stock valued at $1,618,000 after acquiring an additional 1,267 shares during the last quarter. Geneos Wealth Management Inc. increased its position in NetApp by 22.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after acquiring an additional 100 shares during the last quarter. Finally, Blue Trust Inc. increased its position in NetApp by 31.2% during the fourth quarter. Blue Trust Inc. now owns 3,941 shares of the data storage provider's stock valued at $487,000 after acquiring an additional 937 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Price Performance

NetApp stock traded down $0.53 during midday trading on Friday, reaching $98.68. 7,013,958 shares of the stock traded hands, compared to its average volume of 1,937,040. The stock's fifty day moving average is $90.19 and its 200-day moving average is $107.10. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a market cap of $20.07 billion, a P/E ratio of 18.14, a PEG ratio of 2.45 and a beta of 1.40. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.72 billion. During the same period last year, the company earned $1.80 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp, Inc. will post 5.89 EPS for the current 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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 3rd. NetApp's dividend payout ratio is currently 38.52%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NTAP shares. Wells Fargo & Company reduced their price objective on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday. Evercore ISI reduced their price objective on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Wedbush reiterated a "neutral" rating and set a $110.00 price objective on shares of NetApp in a research report on Friday. Wall Street Zen cut NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Loop Capital reduced their price target on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $118.93.

Insider Buying and Selling

In other news, Director Anders Gustafsson bought 2,800 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the transaction, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. This trade represents a 78.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. This trade represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,724 shares of company stock valued at $2,520,032. Insiders own 0.47% of the company's stock.

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.