Jump Financial LLC Makes New $1.06 Million Investment in NetApp, Inc. (NASDAQ:NTAP)

Jump Financial LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,154 shares of the data storage provider's stock, valued at approximately $1,063,000.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp during the fourth quarter valued at about $26,000. Assetmark Inc. boosted its position in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new position in NetApp in the fourth quarter valued at $32,000. Golden State Wealth Management LLC acquired a new position in NetApp in the 4th quarter worth about $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of NetApp during the 4th quarter valued at approximately $39,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 0.3 %

Shares of NTAP traded up $0.28 during midday trading on Friday, hitting $88.45. 1,699,069 shares of the stock were exchanged, compared to its average volume of 1,929,712. The stock has a fifty day simple moving average of $92.87 and a 200 day simple moving average of $111.52. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market cap of $17.99 billion, a P/E ratio of 16.26, a P/E/G ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Insiders Place Their Bets

In other news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares in the company, valued at $20,438,269.95. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,176 shares of company stock worth $5,095,701 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NTAP shares. StockNews.com downgraded shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wedbush restated a "neutral" rating and issued a $110.00 target price (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Barclays reduced their price objective on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, Loop Capital reduced their target price 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. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $125.07.

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.