154,989 Shares in NetApp, Inc. (NASDAQ:NTAP) Bought by Woodline Partners LP

Woodline Partners LP acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 154,989 shares of the data storage provider's stock, valued at approximately $17,991,000. Woodline Partners LP owned about 0.08% of NetApp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp grew its position in NetApp by 4.8% during the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock worth $1,485,000 after acquiring an additional 581 shares during the last quarter. Versor Investments LP acquired a new position in NetApp during the 4th quarter worth about $395,000. AMJ Financial Wealth Management lifted its stake in shares of NetApp by 120.7% in the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock valued at $7,998,000 after purchasing an additional 37,684 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of NetApp by 9.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider's stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of NetApp in the 4th quarter valued at about $5,151,000. Institutional investors own 92.17% of the company's stock.

NetApp Stock Performance

Shares of NetApp stock opened at $99.57 on Thursday. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.45 and a beta of 1.40. The business has a 50-day simple moving average of $89.38 and a 200 day simple moving average of $108.13. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio is currently 38.52%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTAP. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Citigroup boosted their price objective on NetApp from $90.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Loop Capital dropped their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company dropped their price objective on NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $121.40.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now directly owns 12,900 shares of the company's stock, valued at approximately $1,194,282. The trade was a 3.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anders Gustafsson acquired 2,800 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were bought at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the acquisition, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. This represents a 78.92% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 28,724 shares of company stock valued at $2,520,032. Corporate insiders own 0.47% of the company's stock.

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.

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