Atomi Financial Group Inc. Increases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Atomi Financial Group Inc. boosted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,415 shares of the data storage provider’s stock after acquiring an additional 150 shares during the quarter. Atomi Financial Group Inc.’s holdings in NetApp were worth $280,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Public Sector Pension Investment Board grew its holdings in shares of NetApp by 57.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,897 shares of the data storage provider’s stock worth $1,017,000 after acquiring an additional 2,879 shares during the period. MBB Public Markets I LLC purchased a new stake in shares of NetApp in the 2nd quarter worth about $1,914,000. The Manufacturers Life Insurance Company grew its stake in NetApp by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,777 shares of the data storage provider’s stock valued at $24,057,000 after acquiring an additional 8,305 shares during the last quarter. Mackenzie Financial Corp increased its holdings in NetApp by 23.6% during the 2nd quarter. Mackenzie Financial Corp now owns 63,391 shares of the data storage provider’s stock valued at $8,165,000 after acquiring an additional 12,119 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of NetApp by 3.5% in the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after purchasing an additional 82,378 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTAP. Northland Securities upped their price objective on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Bank of America increased their price target on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research note on Friday, November 22nd. Oppenheimer initiated coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating for the company. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Monday, January 20th. Finally, Barclays raised their price target on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.20.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $117.44, for a total transaction of $38,285.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. 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 ninety days. 0.47% of the stock is currently owned by corporate insiders.

NetApp Price Performance

Shares of NTAP stock opened at $126.00 on Monday. The firm has a market cap of $25.62 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.99 and a beta of 1.23. NetApp, Inc. has a 1-year low of $83.80 and a 1-year high of $135.45. The firm has a fifty day moving average of $121.41 and a two-hundred day moving average of $122.62. 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 (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping 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 net margin of 17.78% and a return on equity of 123.63%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. As a group, research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced 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 was Friday, January 3rd. NetApp’s dividend payout ratio (DPR) is 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.