17,696 Shares in NetApp, Inc. (NASDAQ:NTAP) Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,696 shares of the data storage provider's stock, valued at approximately $2,054,000. NetApp makes up approximately 0.4% of Fox Run Management L.L.C.'s investment portfolio, making the stock its 13th largest position.

A number of other institutional investors also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp in the 4th quarter valued at about $26,000. Assetmark Inc. increased its holdings in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new position in NetApp in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp during the 4th quarter valued at approximately $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of NetApp during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Activity

In related news, EVP Elizabeth M. O'callahan sold 528 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,931 shares of company stock valued at $6,252,759. Company insiders own 0.47% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently commented on NTAP shares. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Citigroup reduced their target price on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Susquehanna downgraded shares of NetApp from a "positive" rating to a "neutral" rating and lowered their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Loop Capital decreased their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, NetApp presently has a consensus rating of "Hold" and an average price target of $129.07.

NetApp Trading Down 0.7 %

Shares of NASDAQ:NTAP traded down $0.66 during trading on Tuesday, reaching $94.47. 718,246 shares of the stock were exchanged, compared to its average volume of 1,748,144. The firm's 50-day moving average price is $112.05 and its 200 day moving average price is $117.91. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12-month low of $89.88 and a 12-month high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's payout ratio is currently 38.52%.

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.