Marshall Financial Group LLC Purchases Shares of 9,707 NetApp, Inc. $NTAP

Marshall Financial Group LLC bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,707 shares of the data storage provider’s stock, valued at approximately $1,024,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Manchester Capital Management LLC boosted its stake in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC acquired a new stake in NetApp during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC acquired a new stake in NetApp during the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in NetApp during the 4th quarter worth approximately $36,000. 92.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the sale, the executive vice president owned 23,628 shares in the company, valued at $2,922,074.76. This represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $108.85, for a total value of $925,225.00. Following the sale, the chief executive officer owned 283,688 shares in the company, valued at approximately $30,879,438.80. The trade was a 2.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,000 shares of company stock worth $2,180,315. 0.28% of the stock is owned by corporate insiders.

NetApp Stock Up 0.4%

Shares of NetApp stock opened at $123.92 on Thursday. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The stock’s 50-day moving average is $110.57 and its 200 day moving average is $100.29. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.68 and a beta of 1.46.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp’s dividend payout ratio is presently 36.75%.

Analyst Ratings Changes

Several brokerages have weighed in on NTAP. JPMorgan Chase & Co. lifted their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Morgan Stanley set a $117.00 price objective on NetApp in a report on Thursday, August 28th. Bank of America lifted their price objective on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Wells Fargo & Company lowered their price target on NetApp from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. Finally, Barclays boosted their price target on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $124.07.

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.