Sherbrooke Park Advisers LLC Makes New Investment in NetApp, Inc. (NASDAQ:NTAP)

Sherbrooke Park Advisers LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,318 shares of the data storage provider's stock, valued at approximately $966,000.

Several other hedge funds have also modified their holdings of the company. Barclays PLC boosted its stake in NetApp by 31.4% during the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock worth $96,873,000 after buying an additional 187,638 shares during the last quarter. Czech National Bank raised its holdings in shares of NetApp by 6.0% during the 4th quarter. Czech National Bank now owns 44,401 shares of the data storage provider's stock worth $5,154,000 after acquiring an additional 2,526 shares during the period. Brookstone Capital Management purchased a new position in shares of NetApp during the 4th quarter worth $222,000. Oak Thistle LLC acquired a new position in shares of NetApp during the 4th quarter valued at about $416,000. Finally, Park Avenue Securities LLC grew its holdings in shares of NetApp by 180.1% in the fourth quarter. Park Avenue Securities LLC now owns 13,168 shares of the data storage provider's stock valued at $1,529,000 after purchasing an additional 8,466 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NTAP shares. Barclays raised shares of NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price target on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Evercore ISI cut their price target on 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. decreased their price objective on NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a report on Wednesday, February 19th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of "Hold" and an average price target of $121.40.

NetApp Stock Performance

Shares of NASDAQ NTAP traded down $0.78 during trading on Wednesday, reaching $100.28. The stock had a trading volume of 727,417 shares, compared to its average volume of 1,912,197. The firm's 50 day moving average price is $89.23 and its two-hundred day moving average price is $108.19. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The stock has a market cap of $20.40 billion, a PE ratio of 18.38, a P/E/G ratio of 2.45 and a beta of 1.40.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, April 4th. NetApp's dividend payout ratio is presently 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anders Gustafsson bought 2,800 shares of the company's stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of $91.00 per share, for a total transaction 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. The trade was a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 28,724 shares of company stock worth $2,520,032. 0.47% of the stock is owned by company insiders.

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.