Quantinno Capital Management LP Increases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Quantinno Capital Management LP increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 35.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,473 shares of the data storage provider's stock after purchasing an additional 16,515 shares during the period. Quantinno Capital Management LP's holdings in NetApp were worth $7,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp in the fourth quarter worth $26,000. Assetmark Inc. lifted its position in NetApp by 826.9% during the fourth 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 bought a new position in NetApp during the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. lifted its position in NetApp by 929.6% during the fourth 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 bought a new position in NetApp during the fourth quarter valued at $35,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Performance

Shares of NTAP traded up $1.00 during trading hours on Monday, hitting $101.53. The stock had a trading volume of 2,036,789 shares, compared to its average volume of 1,918,387. 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 firm has a 50-day moving average price of $88.80 and a 200 day moving average price of $108.34. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.45 and a beta of 1.40.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, April 4th. NetApp's dividend payout ratio is presently 38.52%.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the transaction, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This represents a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 528 shares of the stock in a transaction dated 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 owns 12,900 shares of the company's stock, valued at $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. 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NTAP. Barclays raised shares of NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price target for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and reduced their price target for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Citigroup boosted their price target on shares of NetApp from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Friday. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $124.07.

NetApp Company 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.