DGS Capital Management LLC Grows Position in NetApp, Inc. (NASDAQ:NTAP)

DGS Capital Management LLC raised its position in NetApp, Inc. (NASDAQ:NTAP) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,804 shares of the data storage provider’s stock after buying an additional 128 shares during the quarter. DGS Capital Management LLC’s holdings in NetApp were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NTAP. Impact Partnership Wealth LLC increased its holdings in shares of NetApp by 15.1% in the 4th quarter. Impact Partnership Wealth LLC now owns 3,876 shares of the data storage provider’s stock valued at $450,000 after acquiring an additional 508 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of NetApp by 39.2% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 51,161 shares of the data storage provider’s stock valued at $5,960,000 after buying an additional 14,417 shares during the last quarter. True North Advisors LLC acquired a new stake in shares of NetApp during the fourth quarter worth about $727,000. Janney Montgomery Scott LLC boosted its stake in shares of NetApp by 10.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,940 shares of the data storage provider’s stock worth $1,618,000 after buying an additional 1,267 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of NetApp by 128.7% during the fourth quarter. SG Americas Securities LLC now owns 6,038 shares of the data storage provider’s stock worth $701,000 after buying an additional 27,090 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective on shares of NetApp in a research report on Friday, November 22nd. Morgan Stanley lifted their price objective on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Northland Securities boosted their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Bank of America raised their target price on shares of NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company boosted their price target on shares of NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $139.20.

Insiders Place Their Bets

In related news, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the transaction, the chief executive officer now owns 271,282 shares of the company’s stock, valued at approximately $33,375,824.46. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,610 shares of company stock worth $6,123,351 over the last quarter. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $126.00 on Friday. The firm has a market capitalization of $25.62 billion, a PE ratio of 23.16, a P/E/G ratio of 2.99 and a beta of 1.23. NetApp, Inc. has a 12 month low of $83.80 and a 12 month high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The business has a 50-day moving average of $121.41 and a two-hundred day moving average of $122.69.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $1.23 earnings per share. NetApp’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is presently 38.24%.

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.