32,391 Shares in NetApp, Inc. $NTAP Acquired by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP) in the second quarter, HoldingsChannel reports. The fund bought 32,391 shares of the data storage provider’s stock, valued at approximately $5,011,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of NetApp in the 2nd quarter valued at $2,925,168,000. State Street Corp increased its holdings in shares of NetApp by 1.1% during the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock worth $1,091,499,000 after buying an additional 115,451 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of NetApp during the 2nd quarter worth $1,395,423,000. Wellington Management Group LLP raised its position in shares of NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after buying an additional 718,409 shares during the period. Finally, Norges Bank purchased a new position in shares of NetApp in the 4th quarter worth $458,060,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity

In other news, President Cesar Cernuda sold 2,608 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $204.48, for a total value of $533,283.84. Following the completion of the sale, the president owned 46,530 shares in the company, valued at approximately $9,514,454.40. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,072 shares of company stock valued at $8,719,520 in the last ninety days. Company insiders own 0.36% of the company’s stock.

NetApp Stock Down 0.9%

Shares of NASDAQ NTAP opened at $185.29 on Tuesday. The stock has a fifty day moving average price of $176.44 and a 200 day moving average price of $138.83. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $209.06. The company has a market cap of $36.36 billion, a P/E ratio of 29.13, a P/E/G ratio of 3.33 and a beta of 1.45.

Analyst Ratings Changes

A number of research firms have issued reports on NTAP. JPMorgan Chase & Co. boosted their price target on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NetApp in a research note on Tuesday, June 2nd. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Barclays increased their target price on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $137.00 to $173.00 in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus target price of $184.08.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.