Two Sigma Advisers LP Decreases Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Two Sigma Advisers LP cut its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 80.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,102 shares of the data storage provider's stock after selling 262,000 shares during the quarter. Two Sigma Advisers LP's holdings in NetApp were worth $7,209,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Tidal Investments LLC raised its stake in shares of NetApp by 7.0% during the fourth quarter. Tidal Investments LLC now owns 243,863 shares of the data storage provider's stock worth $28,308,000 after acquiring an additional 15,930 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of NetApp by 36.3% during the fourth quarter. Toronto Dominion Bank now owns 125,740 shares of the data storage provider's stock worth $14,594,000 after acquiring an additional 33,500 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of NetApp during the fourth quarter worth approximately $966,000. Silvercrest Asset Management Group LLC purchased a new position in shares of NetApp during the fourth quarter worth approximately $7,156,000. Finally, Rafferty Asset Management LLC raised its stake in shares of NetApp by 1.8% during the fourth quarter. Rafferty Asset Management LLC now owns 75,947 shares of the data storage provider's stock worth $8,816,000 after acquiring an additional 1,322 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. Barclays raised shares of NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 target price on the stock in a research note on Wednesday, April 30th. TD Cowen cut their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Evercore ISI cut their price target on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.40.

Insider Buying and Selling

In related news, EVP Elizabeth M. O'callahan sold 528 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares in the company, valued at $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 available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the transaction, the chief executive officer now owns 249,765 shares in the company, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,724 shares of company stock worth $2,520,032 in the last quarter. Corporate insiders own 0.47% of the company's stock.

NetApp Stock Down 0.5%

Shares of NTAP stock traded down $0.46 during mid-day trading on Thursday, reaching $99.21. 715,578 shares of the company's stock traded hands, compared to its average volume of 1,914,222. The company has a market cap of $20.18 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.45 and a beta of 1.40. The company's 50-day moving average price is $90.02 and its 200-day moving average price is $107.41. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. 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 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.