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

DSG Capital Advisors LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, HoldingsChannel reports. The fund purchased 11,930 shares of the data storage provider’s stock, valued at approximately $1,385,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NTAP. Barclays PLC increased its stake in NetApp by 31.4% during the 3rd quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock worth $96,873,000 after acquiring an additional 187,638 shares during the period. SG Americas Securities LLC lifted its position in shares of NetApp by 128.7% during the 4th 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 period. Janney Montgomery Scott LLC grew its holdings in shares of NetApp by 10.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,940 shares of the data storage provider’s stock worth $1,618,000 after purchasing an additional 1,267 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 100 shares during the period. Finally, Blue Trust Inc. raised its stake in NetApp by 31.2% in the fourth quarter. Blue Trust Inc. now owns 3,941 shares of the data storage provider’s stock valued at $487,000 after purchasing an additional 937 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $100.37 on Wednesday. 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 50 day moving average price of $89.88 and a 200-day moving average price of $107.46. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.45 and a beta of 1.40.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.07%. NetApp’s payout ratio is currently 38.52%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NTAP. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Barclays upgraded NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a research report on Wednesday, April 30th. TD Cowen lowered their target price on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.40.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares in the company, valued at $1,194,282. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now owns 11,928 shares of the company’s stock, valued at approximately $1,075,309.20. This trade represents a 62.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,724 shares of company stock valued at $2,520,032. 0.47% of the stock is owned by corporate insiders.

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.