NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,873 shares of the data storage provider’s stock after purchasing an additional 741 shares during the period. Thoroughbred Financial Services LLC’s holdings in NetApp were worth $565,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTAP. Resonant Capital Advisors LLC lifted its stake 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 period. Larson Financial Group LLC increased its stake in NetApp by 2.5% in the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock valued at $438,000 after purchasing an additional 92 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after buying an additional 100 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of NetApp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after acquiring an additional 111 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Price Performance

NASDAQ NTAP opened at $76.10 on Friday. The company has a market capitalization of $15.48 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 12-month low of $74.83 and a 12-month high of $135.45. The firm’s 50 day moving average is $105.85 and its 200-day moving average is $116.12. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is 38.52%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays dropped their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Loop Capital lowered their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and upped their price target for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $129.07.

Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the transaction, the president now owns 11,928 shares of the company’s stock, valued at $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the sale, the chief financial officer now owns 123,243 shares in the company, valued at approximately $14,880,359.82. This trade represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,627 shares of company stock valued at $5,498,573. 0.47% of the stock is owned by insiders.

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.