Fox Run Management L.L.C. Invests $2.05 Million in NetApp, Inc. (NASDAQ:NTAP)

Fox Run Management L.L.C. bought a new position in shares of NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,696 shares of the data storage provider’s stock, valued at approximately $2,054,000. NetApp comprises approximately 0.4% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 13th largest holding.

Other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp raised its holdings in shares of NetApp by 4.8% during the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after purchasing an additional 581 shares during the last quarter. Versor Investments LP purchased a new position in shares of NetApp during the fourth quarter worth $395,000. AMJ Financial Wealth Management raised its holdings in shares of NetApp by 120.7% during the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of NetApp by 20.9% during the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after purchasing an additional 7,318 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after purchasing an additional 113,360 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NTAP opened at $92.25 on Friday. The firm has a market capitalization of $18.76 billion, a PE ratio of 16.96, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a twelve month low of $89.88 and a twelve month high of $135.45. The firm’s 50-day moving average price is $112.44 and its 200 day moving average price is $118.08. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. NetApp’s payout ratio is presently 38.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NTAP. Northland Securities raised their target price on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Citigroup cut their price objective on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, TD Cowen cut their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus price target of $129.07.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is owned by insiders.

About NetApp

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.