Lido Advisors LLC Acquires 57,454 Shares of NetApp, Inc. (NASDAQ:NTAP)

Lido Advisors LLC boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1,732.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,770 shares of the data storage provider's stock after buying an additional 57,454 shares during the quarter. Lido Advisors LLC's holdings in NetApp were worth $7,054,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of NetApp in the fourth quarter valued at approximately $306,440,000. Boston Partners boosted its holdings in shares of NetApp by 53.9% in the fourth quarter. Boston Partners now owns 2,083,189 shares of the data storage provider's stock worth $241,867,000 after acquiring an additional 729,394 shares during the period. KBC Group NV boosted its holdings in shares of NetApp by 276.9% in the fourth quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock worth $103,431,000 after acquiring an additional 654,626 shares during the period. Raymond James Financial Inc. bought a new stake in shares of NetApp during the 4th quarter valued at $64,683,000. Finally, Northern Trust Corp raised its stake in shares of NetApp by 24.2% during the 4th quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider's stock valued at $327,848,000 after purchasing an additional 550,607 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Trading Up 2.9 %

NTAP stock traded up $2.60 during trading on Friday, hitting $92.33. 1,528,425 shares of the company traded hands, compared to its average volume of 1,935,234. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The company has a 50-day moving average of $89.43 and a 200-day moving average of $110.25. The firm has a market capitalization of $18.78 billion, a PE ratio of 16.97, a P/E/G ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were issued 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 yield of 2.25%. NetApp's dividend payout ratio is currently 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anders Gustafsson bought 2,800 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the transaction, the director now owns 6,348 shares in the company, valued at approximately $577,668. This trade represents a 78.92 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 50,176 shares of company stock valued at $5,095,701 in the last quarter. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NTAP shares. StockNews.com cut NetApp from a "buy" rating to a "hold" rating in a research 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 for the company in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their price objective on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Loop Capital reduced their target price on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and dropped their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NetApp currently has an average rating of "Hold" and an average price target of $123.07.

About NetApp

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.