PharVision Advisers LLC Buys New Position in NetApp, Inc. (NASDAQ:NTAP)

PharVision Advisers LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,473 shares of the data storage provider’s stock, valued at approximately $403,000.

Other large investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in NetApp by 8.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,986,330 shares of the data storage provider’s stock worth $346,653,000 after buying an additional 220,393 shares during the period. Voloridge Investment Management LLC acquired a new stake in NetApp during the 4th quarter worth about $3,336,000. Woodline Partners LP purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $17,991,000. Zurich Insurance Group Ltd FI acquired a new position in NetApp in the 4th quarter worth approximately $1,660,000. Finally, iSAM Funds UK Ltd purchased a new position in NetApp during the 4th quarter worth approximately $346,000. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NTAP. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Citigroup raised their price objective on NetApp from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Wedbush reiterated a “neutral” rating and issued a $110.00 target price (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Finally, StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $121.40.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the 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 sale, the president now owns 11,928 shares of the company’s stock, valued at $1,075,309.20. This represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares in the company, valued at $20,438,269.95. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,724 shares of company stock worth $2,520,032. Company insiders own 0.47% of the company’s stock.

NetApp Stock Down 0.5%

NASDAQ:NTAP opened at $101.06 on Wednesday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.45 and a beta of 1.40. The stock has a 50-day moving average price of $89.23 and a two-hundred day moving average price of $108.19.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.06%. NetApp’s dividend payout ratio (DPR) 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.