3,895 Shares in NetApp, Inc. (NASDAQ:NTAP) Acquired by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,895 shares of the data storage provider’s stock, valued at approximately $452,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Barclays PLC lifted its holdings in shares of NetApp by 31.4% during the 3rd quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock valued at $96,873,000 after buying an additional 187,638 shares during the last quarter. Brookstone Capital Management bought a new position in NetApp during the fourth quarter valued at approximately $222,000. Park Avenue Securities LLC lifted its stake in 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 acquiring an additional 8,466 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in NetApp in the fourth quarter worth approximately $419,000. Finally, Ritholtz Wealth Management grew its position in NetApp by 3.3% in the fourth quarter. Ritholtz Wealth Management now owns 6,407 shares of the data storage provider’s stock worth $744,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the sale, the chief executive officer now owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anders Gustafsson purchased 2,800 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the acquisition, the director now owns 6,348 shares of the company’s stock, valued at approximately $577,668. This represents a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 37,224 shares of company stock worth $3,531,872. Corporate insiders own 0.47% of the company’s stock.

NetApp Trading Up 0.7%

Shares of NASDAQ NTAP opened at $100.53 on Monday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a market cap of $20.45 billion, a price-to-earnings ratio of 18.48, 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 fifty day moving average is $88.80 and its 200-day moving average is $108.34.

NetApp Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on NTAP. Barclays raised NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Wednesday, April 30th. Citigroup upped their target price on NetApp from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $124.07.

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.