Lido Advisors LLC Raises Position in NetApp, Inc. (NASDAQ:NTAP)

Lido Advisors LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 1,732.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp in the 4th quarter worth approximately $26,000. Assetmark Inc. boosted 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 worth $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC purchased a new position in shares of NetApp in the fourth quarter valued at $32,000. Golden State Wealth Management LLC bought a new stake in shares of NetApp during the 4th quarter valued at $35,000. Finally, Coppell Advisory Solutions LLC lifted its holdings in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock worth $35,000 after purchasing an additional 100 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 0.9 %

Shares of NASDAQ:NTAP traded up $0.79 during trading on Monday, reaching $93.12. 308,504 shares of the company traded hands, compared to its average volume of 1,926,709. 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 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 2.45 and a beta of 1.40. The business's fifty day moving average is $89.43 and its 200-day moving average is $110.03.

NetApp Announces Dividend

The company also recently declared 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 2.23%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTAP. Loop Capital cut their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. StockNews.com cut NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Wedbush restated a "neutral" rating and issued a $110.00 price objective (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, NetApp has a consensus rating of "Hold" and a consensus target price of $123.07.

Insider Buying and Selling at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. This trade represents a 62.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael J. Berry sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,176 shares of company stock worth $5,095,701. 0.47% of the stock is currently 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.