Csenge Advisory Group Purchases 4,299 Shares of NetApp, Inc. (NASDAQ:NTAP)

Csenge Advisory Group grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 168.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,856 shares of the data storage provider's stock after buying an additional 4,299 shares during the period. Csenge Advisory Group's holdings in NetApp were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Resonant Capital Advisors LLC raised its position in shares of NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after buying an additional 80 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of NetApp by 22.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after buying an additional 100 shares during the last quarter. OLD National Bancorp IN raised its position in shares of NetApp by 3.5% during the third quarter. OLD National Bancorp IN now owns 3,492 shares of the data storage provider's stock valued at $431,000 after buying an additional 118 shares during the last quarter. Ballentine Partners LLC raised its position in shares of NetApp by 4.5% during the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider's stock valued at $340,000 after buying an additional 118 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of NetApp by 2.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider's stock valued at $796,000 after buying an additional 128 shares during the last quarter. Institutional investors own 92.17% of the company's stock.

NetApp Trading Down 0.1 %

NASDAQ NTAP traded down $0.08 on Friday, hitting $124.47. 2,975,285 shares of the stock were exchanged, compared to its average volume of 1,430,411. 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 stock has a fifty day moving average price of $120.07 and a two-hundred day moving average price of $121.86. The firm has a market capitalization of $25.31 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.96 and a beta of 1.23. NetApp, Inc. has a 52-week low of $85.28 and a 52-week high of $135.45.

NetApp (NASDAQ:NTAP - Get Free Report) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company earned $1.23 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts forecast that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NTAP has been the topic of several recent analyst reports. StockNews.com upgraded shares of NetApp from a "hold" rating to a "buy" rating in a research report on Wednesday. Stifel Nicolaus raised their target price on shares of NetApp from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Wedbush reissued a "neutral" rating and issued a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. Morgan Stanley raised their target price on shares of NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. raised shares of NetApp from a "neutral" rating to an "overweight" rating and set a $160.00 target price for the company in a report on Monday, December 16th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $137.33.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the sale, the chief executive officer now directly owns 266,765 shares in the company, valued at approximately $31,755,705.60. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O'callahan sold 451 shares of NetApp stock in a transaction on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares of the company's stock, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is currently owned by insiders.

About NetApp

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.