Confluence Wealth Services Inc. Has $492,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Confluence Wealth Services Inc. grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,684 shares of the data storage provider’s stock after purchasing an additional 106 shares during the period. Confluence Wealth Services Inc.’s holdings in NetApp were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NTAP. Rise Advisors LLC acquired a new stake in NetApp in the first quarter valued at approximately $27,000. ORG Partners LLC increased its holdings in NetApp by 14,650.0% in the 4th quarter. ORG Partners LLC now owns 295 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 293 shares in the last quarter. First Horizon Advisors Inc. raised its position in NetApp by 58.7% in the fourth quarter. First Horizon Advisors Inc. now owns 311 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. raised its position in NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 150 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of NetApp during the third quarter valued at about $27,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00. Following the transaction, the chief executive officer now directly owns 261,202 shares in the company, valued at approximately $26,496,330.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00. Following the completion of the transaction, the chief executive officer now directly owns 261,202 shares in the company, valued at $26,496,330.88. The disclosure for this sale can be found here. Insiders have sold a total of 40,371 shares of company stock valued at $4,139,505 over the last 90 days. Insiders own 0.37% of the company’s stock.

NetApp Stock Down 0.3 %

Shares of NTAP traded down $0.27 during trading hours on Tuesday, hitting $102.21. The stock had a trading volume of 1,274,181 shares, compared to its average volume of 1,857,988. The firm has a market capitalization of $21.09 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.28. NetApp, Inc. has a 1-year low of $61.54 and a 1-year high of $112.48. The firm has a 50 day simple moving average of $100.88 and a 200-day simple moving average of $89.83. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.25. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were issued a $0.50 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. NetApp’s dividend payout ratio is presently 45.45%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NTAP shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $120.00 price target (up previously from $105.00) on shares of NetApp in a research note on Friday, March 1st. Raymond James reiterated a “market perform” rating on shares of NetApp in a report on Tuesday, January 16th. Wedbush increased their target price on shares of NetApp from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. StockNews.com downgraded shares of NetApp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of NetApp from $87.00 to $95.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $100.60.

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.