12,344 Shares in NetApp, Inc. (NASDAQ:NTAP) Bought by Redwood Investment Management LLC

Redwood Investment Management LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,344 shares of the data storage provider's stock, valued at approximately $1,433,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of NetApp by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock worth $3,069,617,000 after purchasing an additional 429,343 shares during the last quarter. Ameriprise Financial Inc. increased its position in NetApp by 14.5% during the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after buying an additional 888,671 shares during the last quarter. Invesco Ltd. raised its stake in NetApp by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock valued at $362,544,000 after buying an additional 529,471 shares during the period. Beutel Goodman & Co Ltd. lifted its position in shares of NetApp by 0.4% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock valued at $335,215,000 after buying an additional 12,919 shares during the last quarter. Finally, Northern Trust Corp boosted 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 worth $327,848,000 after acquiring an additional 550,607 shares during the period. Institutional investors own 92.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NTAP shares. Wedbush reaffirmed a "neutral" rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. StockNews.com cut shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and decreased their price target for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Finally, Evercore ISI decreased their target price on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, NetApp presently has an average rating of "Hold" and a consensus target price of $124.07.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now owns 12,900 shares of the company's stock, valued at approximately $1,194,282. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anders Gustafsson acquired 2,800 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the acquisition, the director now owns 6,348 shares in the company, valued at $577,668. This represents a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 37,224 shares of company stock worth $3,531,872 in the last ninety days. 0.47% of the stock is owned by insiders.

NetApp Price Performance

NASDAQ:NTAP traded up $1.00 during mid-day trading on Monday, reaching $101.53. The stock had a trading volume of 2,036,789 shares, compared to its average volume of 1,918,387. NetApp, Inc. has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a market capitalization of $20.65 billion, a PE ratio of 18.66, a P/E/G ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a 50-day simple moving average of $88.80 and a two-hundred day simple moving average of $108.34.

NetApp Dividend Announcement

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