Gotham Asset Management LLC Has $23.27 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Gotham Asset Management LLC increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 21.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,421 shares of the data storage provider’s stock after purchasing an additional 34,927 shares during the period. Gotham Asset Management LLC’s holdings in NetApp were worth $23,265,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. lifted its position in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC bought a new position in NetApp during the fourth quarter worth $32,000. Itau Unibanco Holding S.A. grew its holdings in NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after purchasing an additional 251 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in NetApp in the fourth quarter valued at $35,000. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the transaction, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,676 shares of company stock worth $3,586,451 in the last quarter. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price target on NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Barclays upgraded NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a report on Wednesday, April 30th. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Finally, Evercore ISI decreased their price target on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a research note on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average target price of $123.07.

NetApp Price Performance

NetApp stock opened at $93.44 on Friday. The stock has a market cap of $19.01 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.45 and a beta of 1.40. 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’s 50 day moving average price is $88.11 and its two-hundred day moving average price is $109.16. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were given a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.23%. NetApp’s dividend payout ratio is currently 38.52%.

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.