Mach 1 Financial Group LLC Takes Position in NetApp, Inc. (NASDAQ:NTAP)

Mach 1 Financial Group LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,313 shares of the data storage provider's stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC grew its stake in NetApp by 14,650.0% in the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider's stock worth $26,000 after buying an additional 293 shares in the last quarter. UMB Bank n.a. grew its stake in NetApp by 82.9% in the 4th quarter. UMB Bank n.a. now owns 331 shares of the data storage provider's stock worth $29,000 after buying an additional 150 shares in the last quarter. Larson Financial Group LLC purchased a new position in NetApp in the 3rd quarter worth approximately $27,000. Planned Solutions Inc. purchased a new position in NetApp in the 4th quarter worth approximately $34,000. Finally, First Pacific Financial purchased a new stake in shares of NetApp in the 3rd quarter valued at $29,000. Institutional investors own 92.17% of the company's stock.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O'callahan sold 871 shares of the firm's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the sale, the executive vice president now owns 9,601 shares of the company's stock, valued at approximately $989,095.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Elizabeth M. O'callahan sold 871 shares of the firm's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the sale, the executive vice president now owns 9,601 shares of the company's stock, valued at approximately $989,095.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $101.44, for a total transaction of $862,240.00. Following the sale, the chief executive officer now directly owns 261,202 shares in the company, valued at approximately $26,496,330.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,371 shares of company stock valued at $4,139,505. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research reports. Argus raised shares of NetApp from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a research note on Monday, March 4th. Barclays upped their price objective on shares of NetApp from $80.00 to $100.00 and gave the company an "equal weight" rating in a research note on Friday, March 1st. TD Cowen upped their price target on shares of NetApp from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Stifel Nicolaus reiterated a "buy" rating and set a $120.00 price target (up from $105.00) on shares of NetApp in a report on Friday, March 1st. Finally, Wedbush upped their price target on shares of NetApp from $85.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $100.60.

NetApp Stock Down 0.3 %

Shares of NetApp stock traded down $0.27 during trading on Tuesday, hitting $102.21. The company's stock had a trading volume of 1,274,181 shares, compared to its average volume of 1,857,988. 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 company has a fifty day simple moving average of $100.88 and a two-hundred day simple moving average of $89.83. The company has a market capitalization of $21.09 billion, a PE ratio of 23.23, a P/E/G ratio of 2.24 and a beta of 1.28. NetApp, Inc. has a 52 week low of $61.54 and a 52 week high of $112.48.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm posted $1.02 EPS. NetApp's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts predict that NetApp, Inc. will post 5.16 earnings per share for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, April 4th. NetApp's dividend payout ratio (DPR) is 45.45%.

About NetApp

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.

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