Bayesian Capital Management LP Takes $975,000 Position in NetApp, Inc. (NASDAQ:NTAP)

Bayesian Capital Management LP acquired a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,400 shares of the data storage provider's stock, valued at approximately $975,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the fourth quarter valued at $26,000. Assetmark Inc. raised its position in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new position in shares of NetApp in the 4th quarter valued at about $32,000. Itau Unibanco Holding S.A. grew its position in shares of NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after buying an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of NetApp during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

NetApp stock traded down $1.00 during midday trading on Friday, hitting $93.44. 1,365,012 shares of the company's stock were exchanged, compared to its average volume of 1,929,011. 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 market cap of $19.01 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The firm's 50 day simple moving average is $88.12 and its 200 day simple moving average is $109.34.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NTAP shares. Wells Fargo & Company decreased their price target on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Evercore ISI decreased their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and increased their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. TD Cowen decreased their price target on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their price objective on NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $123.07.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the transaction, the chief executive officer now directly owns 249,765 shares in the company, valued at $20,438,269.95. This trade represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction 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 approximately $1,075,309.20. The trade was a 62.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,676 shares of company stock valued at $3,586,451 in the last ninety days. Insiders own 0.47% of the company's stock.

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.