Bayesian Capital Management LP Purchases Shares of 8,400 NetApp, Inc. (NASDAQ:NTAP)

Bayesian Capital Management LP purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,400 shares of the data storage provider’s stock, valued at approximately $975,000.

Several other institutional investors also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp in the 4th quarter worth approximately $26,000. Assetmark Inc. raised its stake in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in NetApp in the fourth quarter valued at $32,000. Itau Unibanco Holding S.A. boosted 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 acquiring an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in NetApp during the 4th quarter worth about $35,000. Institutional investors own 92.17% of the company’s stock.

Insider Activity

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now directly owns 266,765 shares in the company, valued at $31,755,705.60. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the transaction, the executive vice president now owns 11,553 shares of the company’s stock, valued at approximately $1,395,024.75. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,676 shares of company stock worth $3,586,451 over the last quarter. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent analyst reports. Loop Capital dropped their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Evercore ISI dropped their price target on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Finally, Citigroup reduced their price target on shares of NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.07.

NetApp Stock Up 0.8 %

Shares of NASDAQ:NTAP opened at $93.09 on Tuesday. The stock has a market cap of $18.94 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.45 and a beta of 1.40. The business’s 50 day moving average is $88.80 and its 200 day moving average is $109.79. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

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 $0.52 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. NetApp’s payout ratio is 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.