DGS Capital Management LLC Buys 724 Shares of NetApp, Inc. (NASDAQ:NTAP)

DGS Capital Management LLC lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 18.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,676 shares of the data storage provider’s stock after acquiring an additional 724 shares during the period. DGS Capital Management LLC’s holdings in NetApp were worth $578,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NTAP. UMB Bank n.a. raised its holdings in NetApp by 11.8% in the 2nd quarter. UMB Bank n.a. now owns 784 shares of the data storage provider’s stock valued at $101,000 after acquiring an additional 83 shares in the last quarter. Aviso Wealth Management increased its stake in NetApp by 1.4% in the second quarter. Aviso Wealth Management now owns 6,149 shares of the data storage provider’s stock valued at $792,000 after acquiring an additional 83 shares during the period. Waldron Private Wealth LLC raised its position in NetApp by 4.3% in the second quarter. Waldron Private Wealth LLC now owns 2,255 shares of the data storage provider’s stock worth $290,000 after purchasing an additional 92 shares in the last quarter. Quarry LP boosted its holdings in NetApp by 11.7% during the second quarter. Quarry LP now owns 876 shares of the data storage provider’s stock valued at $113,000 after purchasing an additional 92 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in NetApp by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,920 shares of the data storage provider’s stock valued at $2,437,000 after purchasing an additional 95 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Down 1.3 %

NetApp stock opened at $121.95 on Friday. The company has a market cap of $24.79 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 2.94 and a beta of 1.23. The firm has a 50-day moving average of $122.90 and a 200-day moving average of $123.95. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a one year low of $83.62 and a one year high of $135.45.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. On average, equities analysts expect that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is currently 38.24%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $155.00 price objective on shares of NetApp in a report on Monday, August 26th. Citigroup lifted their target price on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer initiated coverage on NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, TD Cowen lifted their price objective on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NetApp has an average rating of “Hold” and a consensus price target of $137.40.

Insiders Place Their Bets

In other news, Director Thomas Michael Nevens sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the completion of the sale, the director now directly owns 9,277 shares of the company’s stock, valued at $1,106,096.71. This trade represents a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,049 shares of company stock valued at $2,807,851. 0.47% of the stock is currently owned by corporate insiders.

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.