Range Financial Group LLC Purchases 2,223 Shares of NetApp, Inc. (NASDAQ:NTAP)

Range Financial Group LLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 46.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,054 shares of the data storage provider’s stock after buying an additional 2,223 shares during the period. Range Financial Group LLC’s holdings in NetApp were worth $819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hollencrest Capital Management acquired a new position in NetApp during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of NetApp in the third quarter valued at approximately $27,000. Redwood Wealth Management Group LLC purchased a new position in shares of NetApp during the second quarter valued at approximately $32,000. Hershey Financial Advisers LLC bought a new stake in NetApp during the second quarter worth $45,000. Finally, True Wealth Design LLC raised its position in NetApp by 2,833.3% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after buying an additional 340 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Citigroup upped their price objective on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer started coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Northland Securities boosted their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Finally, Bank of America increased their price target on NetApp from $115.00 to $121.00 and gave the company an “underperform” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $139.20.

NetApp Stock Performance

Shares of NTAP traded down $0.82 during trading hours on Tuesday, hitting $117.18. The company’s stock had a trading volume of 1,373,997 shares, compared to its average volume of 1,276,301. The business has a 50 day simple moving average of $121.06 and a two-hundred day simple moving average of $123.44. NetApp, Inc. has a 52-week low of $83.62 and a 52-week 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 company has a market cap of $23.82 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.92 and a beta of 1.23.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data 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. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $1.23 EPS. NetApp’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that NetApp, Inc. will post 5.83 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.78%. NetApp’s dividend payout ratio (DPR) is 38.24%.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. Insiders sold a total of 51,864 shares of company stock worth $6,185,830 in the last quarter. 0.47% of the stock is owned by company 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.