NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,863 shares of the data storage provider's stock after buying an additional 15,930 shares during the quarter. Tidal Investments LLC owned 0.12% of NetApp worth $28,308,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp in the fourth quarter valued at about $26,000. Assetmark Inc. lifted its holdings in shares of NetApp by 826.9% in the fourth 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 during the fourth quarter valued at approximately $32,000. Itau Unibanco Holding S.A. lifted its stake 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 valued at $32,000 after buying an additional 251 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the fourth quarter valued at approximately $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 1.5%

Shares of NASDAQ NTAP traded down $1.49 during trading on Wednesday, reaching $99.57. The company had a trading volume of 1,777,246 shares, compared to its average volume of 1,916,994. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The stock has a market cap of $20.25 billion, a PE ratio of 18.30, a P/E/G ratio of 2.45 and a beta of 1.40. The business's 50-day moving average is $89.23 and its 200 day moving average is $108.19. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's dividend payout ratio is 38.52%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NTAP shares. Citigroup increased their price objective on shares of NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Susquehanna downgraded shares of NetApp from a "positive" rating to a "neutral" rating and cut their price objective for the company from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com cut shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Wedbush reissued a "neutral" rating and issued a $110.00 target price (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, NetApp presently has a consensus rating of "Hold" and an average price target of $121.40.

Insider Buying and Selling at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the business'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 completion of the transaction, the president now owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 528 shares of NetApp stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares of the company's stock, valued at approximately $1,194,282. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,724 shares of company stock valued at $2,520,032. 0.47% of the stock is owned by company insiders.

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.