Susquehanna Fundamental Investments LLC Takes $4.76 Million Position in NetApp, Inc. $NTAP

Susquehanna Fundamental Investments LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,785 shares of the data storage provider’s stock, valued at approximately $4,764,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Financial Advisors LLC purchased a new stake in shares of NetApp during the 2nd quarter worth approximately $37,000. Park Square Financial Group LLC grew its position in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the 4th quarter valued at $30,000. DV Equities LLC acquired a new stake in NetApp during the 4th quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in NetApp in the third quarter valued at $35,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 0.9%

NASDAQ NTAP opened at $185.29 on Tuesday. The stock has a market capitalization 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. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06. The firm has a 50-day moving average price of $176.44 and a 200 day moving average price of $138.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTAP. Bank of America boosted their target price on NetApp from $180.00 to $206.00 and gave the company a “neutral” rating in a report on Monday. Argus lifted their price target on NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research note on Friday, May 29th. Evercore set a $210.00 price objective on NetApp in a report on Monday, August 24th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $200.00 target price on shares of NetApp in a research report on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus target price of $184.08.

Insider Activity

In other news, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president owned 46,806 shares in the company, valued at $7,246,504.92. This trade represents a 51.38% 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, 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 transaction of $193,820.00. Following the transaction, the executive vice president owned 30,297 shares of the company’s stock, valued at $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,072 shares of company stock worth $8,719,520 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

About NetApp

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.