Lingohr Asset Management GmbH Makes New Investment in NetApp, Inc. (NASDAQ:NTAP)

Lingohr Asset Management GmbH bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,537 shares of the data storage provider's stock, valued at approximately $526,000.

Other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC increased its holdings in NetApp by 66.0% in the third quarter. Natixis Advisors LLC now owns 72,137 shares of the data storage provider's stock worth $8,910,000 after buying an additional 28,693 shares during the last quarter. Thrivent Financial for Lutherans grew its position in NetApp by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 92,817 shares of the data storage provider's stock worth $11,463,000 after acquiring an additional 592 shares in the last quarter. Quest Partners LLC increased its stake in shares of NetApp by 24.5% during the 3rd quarter. Quest Partners LLC now owns 9,461 shares of the data storage provider's stock worth $1,169,000 after purchasing an additional 1,864 shares during the last quarter. Caprock Group LLC raised its holdings in shares of NetApp by 19.6% during the 3rd quarter. Caprock Group LLC now owns 9,348 shares of the data storage provider's stock valued at $1,155,000 after purchasing an additional 1,530 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in shares of NetApp in the 3rd quarter valued at $744,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O'callahan sold 528 shares of NetApp 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 completion of the transaction, the executive vice president now directly owns 12,900 shares of the company's stock, valued at $1,194,282. This trade represents a 3.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock valued at $6,252,759 in the last 90 days. 0.47% of the stock is owned by corporate insiders.

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NetApp Price Performance

NTAP traded up $2.87 during midday trading on Monday, reaching $95.12. 2,170,438 shares of the company's stock were exchanged, compared to its average volume of 1,748,623. 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 business has a 50-day simple moving average of $112.05 and a two-hundred day simple moving average of $117.91. The firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a one year low of $89.88 and a one year high of $135.45.

NetApp Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.19%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analyst Upgrades and Downgrades

Several research firms have commented on NTAP. Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Citigroup reduced their target price on NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and increased their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $129.07.

NetApp 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.