Dark Forest Capital Management LP Reduces Stake in NetApp, Inc. (NASDAQ:NTAP)

Dark Forest Capital Management LP lowered its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,990 shares of the data storage provider's stock after selling 6,746 shares during the quarter. Dark Forest Capital Management LP's holdings in NetApp were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Resonant Capital Advisors LLC boosted its position in NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock worth $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC raised its position in shares of NetApp by 2.5% in the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock worth $438,000 after acquiring an additional 92 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. grew its position 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 period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after purchasing an additional 111 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Elizabeth M. O'callahan sold 452 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the sale, the executive vice president now directly owns 11,553 shares in the company, valued at approximately $1,395,024.75. This trade represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Berry sold 12,500 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,176 shares of company stock valued at $5,095,701. Corporate insiders own 0.47% of the company's stock.

NetApp Trading Up 2.9 %

NASDAQ NTAP traded up $2.60 during trading hours on Friday, reaching $92.33. The company had a trading volume of 1,528,425 shares, compared to its average volume of 1,935,234. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $18.78 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The stock has a 50-day moving average of $89.43 and a 200 day moving average of $110.25. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.25%. NetApp's dividend payout ratio is presently 38.52%.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut 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. Wedbush reiterated a "neutral" rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Citigroup reduced their target price on NetApp from $110.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 14th. StockNews.com cut NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company decreased their price objective on NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $123.07.

NetApp 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.