Apollon Wealth Management LLC Purchases 1,101 Shares of NetApp, Inc. (NASDAQ:NTAP)

Apollon Wealth Management LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 42.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,719 shares of the data storage provider’s stock after buying an additional 1,101 shares during the period. Apollon Wealth Management LLC’s holdings in NetApp were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of NetApp during the third quarter worth $51,000. Crossmark Global Holdings Inc. raised its stake in NetApp by 7.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 168,680 shares of the data storage provider’s stock worth $20,834,000 after purchasing an additional 12,285 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in NetApp by 4.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 52,593 shares of the data storage provider’s stock valued at $6,496,000 after purchasing an additional 2,034 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of NetApp by 7.3% during the third quarter. Verdence Capital Advisors LLC now owns 3,010 shares of the data storage provider’s stock worth $372,000 after purchasing an additional 205 shares during the period. Finally, Hollencrest Capital Management raised its position in shares of NetApp by 165.0% in the third quarter. Hollencrest Capital Management now owns 530 shares of the data storage provider’s stock valued at $65,000 after buying an additional 330 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the sale, the chief executive officer now owns 292,778 shares in the company, valued at $36,922,233.58. This trade represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,890 shares of company stock worth $1,369,172. Company insiders own 0.47% of the company’s stock.

NetApp Trading Down 0.7 %

NASDAQ NTAP opened at $117.21 on Friday. The company has a market cap of $24.00 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 4.49 and a beta of 1.24. NetApp, Inc. has a twelve month low of $76.41 and a twelve month high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. The business’s fifty day moving average is $121.17 and its 200 day moving average is $121.82.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that NetApp, Inc. will post 5.71 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, October 4th. NetApp’s payout ratio is currently 40.63%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTAP. Citigroup increased their price target on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Stifel Nicolaus raised their price target on NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI upped their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. Susquehanna reissued a “positive” rating and issued a $155.00 target price on shares of NetApp in a report on Monday, August 26th. Finally, Barclays upped their price target on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.06.

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.