2,955 Shares in NetApp, Inc. $NTAP Bought by Sivia Capital Partners LLC

Key Points

• Sivia Capital Partners LLC has acquired a new stake in NetApp, purchasing 2,955 shares valued at approximately $315,000 during the second quarter.
• NetApp recently declared a quarterly dividend of $0.52 per share, set to be paid on October 22nd, reflecting an annualized dividend of $2.08 and a yield of 1.6%.
• Insider transactions saw CEO George Kurian selling 8,500 shares at an average price of $108.08, indicating a 2.86% decrease in his ownership position.

Sivia Capital Partners LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,955 shares of the data storage provider's stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also made changes to their positions in NTAP. Pacer Advisors Inc. boosted its holdings in shares of NetApp by 4,687.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider's stock worth $93,874,000 after purchasing an additional 1,046,372 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in NetApp by 1,230.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider's stock valued at $107,359,000 after acquiring an additional 931,850 shares during the last quarter. Vanguard Group Inc. lifted its holdings in NetApp by 2.3% in the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider's stock valued at $2,375,363,000 after acquiring an additional 597,956 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NetApp by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock valued at $311,529,000 after acquiring an additional 560,218 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in NetApp by 97.7% during the first quarter. Federated Hermes Inc. now owns 1,096,236 shares of the data storage provider's stock worth $96,293,000 after purchasing an additional 541,837 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

NetApp stock traded down $1.20 during mid-day trading on Friday, reaching $125.16. The company had a trading volume of 7,250,396 shares, compared to its average volume of 2,221,680. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The stock's 50-day simple moving average is $111.36 and its 200-day simple moving average is $100.72. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a market capitalization of $24.98 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.75 and a beta of 1.46.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 3rd. NetApp's payout ratio is presently 36.75%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NTAP shares. Morgan Stanley set a $117.00 price objective on NetApp in a research report on Thursday, August 28th. Wells Fargo & Company dropped their target price on NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Northland Securities upped their price objective on shares of NetApp from $119.00 to $120.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Argus restated a "buy" rating and issued a $130.00 price objective on shares of NetApp in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $124.07.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares of the company's stock, valued at approximately $2,922,074.76. The trade was a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,750 shares of company stock valued at $3,255,778 over the last ninety days. 0.28% of the stock is owned by corporate 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.