55,000 Shares in NetApp, Inc. (NASDAQ:NTAP) Bought by Moore Capital Management LP

Moore Capital Management LP acquired a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 55,000 shares of the data storage provider's stock, valued at approximately $6,384,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp in the 4th quarter valued at about $26,000. Assetmark Inc. raised its holdings 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 buying an additional 215 shares during the period. Synergy Investment Management LLC purchased a new stake in NetApp in the 4th quarter valued at about $32,000. Itau Unibanco Holding S.A. raised its holdings in 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 buying an additional 251 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in NetApp in the 4th quarter valued at about $35,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NTAP. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Wedbush reaffirmed 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. Citigroup lifted their target price on NetApp from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday. Wells Fargo & Company dropped their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Loop Capital lowered their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, NetApp currently has an average rating of "Hold" and an average target price of $124.07.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the sale, the chief executive officer now directly owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. The trade was a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,224 shares of company stock valued at $3,531,872 over the last three months. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Up 0.7%

NTAP traded up $0.71 on Friday, reaching $100.53. The company's stock had a trading volume of 1,698,642 shares, compared to its average volume of 1,917,911. The stock has a 50 day moving average of $88.80 and a two-hundred day moving average of $108.34. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors 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 2.07%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio (DPR) is 38.52%.

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.