Gotham Asset Management LLC Purchases 34,927 Shares of NetApp, Inc. (NASDAQ:NTAP)

Gotham Asset Management LLC grew its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 200,421 shares of the data storage provider's stock after buying an additional 34,927 shares during the period. Gotham Asset Management LLC owned 0.10% of NetApp worth $23,265,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. raised its stake in NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in NetApp in the 4th quarter valued at $32,000. Itau Unibanco Holding S.A. boosted its holdings in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after purchasing an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in NetApp during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Performance

NASDAQ NTAP traded up $0.56 during trading on Tuesday, reaching $98.99. The company's stock had a trading volume of 158,964 shares, compared to its average volume of 1,921,480. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The firm has a 50 day moving average price of $88.19 and a 200 day moving average price of $108.87. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were given a dividend of $0.52 per share. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.10%. NetApp's payout ratio is 38.52%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup dropped their target price on NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and reduced their price objective for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Wells Fargo & Company cut their price target on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Finally, TD Cowen dropped their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $123.07.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the transaction, the chief executive officer now directly owns 249,765 shares in the company, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 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. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,224 shares of company stock worth $3,531,872 over the last ninety days. 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.