NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 52.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,960 shares of the data storage provider's stock after purchasing an additional 4,118 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in NetApp were worth $1,388,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp during the fourth quarter valued at approximately $26,000. Assetmark Inc. increased its position in shares of NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of NetApp during the 4th quarter valued at $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp in the 4th quarter worth $35,000. Finally, Coppell Advisory Solutions LLC grew its stake 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 buying an additional 100 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction that occurred on 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 transaction, the president now owns 11,928 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O'callahan sold 528 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now directly owns 12,900 shares of the company's stock, valued at approximately $1,194,282. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,224 shares of company stock worth $3,531,872. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NTAP. Wedbush reissued a "neutral" rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price target for the company in a research report on Wednesday, April 30th. Finally, Loop Capital cut their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $123.07.

NetApp Price Performance

Shares of NetApp stock traded up $4.22 on Monday, reaching $97.67. The company's stock had a trading volume of 272,512 shares, compared to its average volume of 1,923,441. 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 $19.87 billion, a P/E ratio of 17.95, a PEG ratio of 2.45 and a beta of 1.40. The stock has a 50-day moving average price of $88.11 and a 200-day moving average price of $109.02. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45.

NetApp Announces Dividend

The business 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 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's payout ratio is presently 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.