Stevens Capital Management LP Has $1.03 Million Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Stevens Capital Management LP raised its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 277.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,860 shares of the data storage provider's stock after buying an additional 6,510 shares during the period. Stevens Capital Management LP's holdings in NetApp were worth $1,028,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of NetApp by 2.0% in the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider's stock worth $1,267,357,000 after buying an additional 199,384 shares during the period. Geode Capital Management LLC lifted its position in shares of NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider's stock valued at $738,280,000 after acquiring an additional 453,324 shares in the last quarter. Boston Partners boosted its stake in NetApp by 53.9% in the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider's stock worth $241,867,000 after purchasing an additional 729,394 shares during the period. Amundi grew its position in NetApp by 25.7% during the 4th quarter. Amundi now owns 1,948,917 shares of the data storage provider's stock worth $228,492,000 after purchasing an additional 397,871 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in NetApp by 9.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider's stock valued at $156,268,000 after purchasing an additional 113,360 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

Remove Ads

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were 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. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the executive vice president now owns 12,900 shares of the company's stock, valued at approximately $1,194,282. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock valued at $6,252,759 in the last 90 days. 0.47% of the stock is currently owned by insiders.

NetApp Stock Performance

NetApp stock traded down $1.66 during trading hours on Thursday, reaching $91.09. 2,640,236 shares of the company were exchanged, compared to its average volume of 1,760,829. NetApp, Inc. has a 12 month low of $89.88 and a 12 month high of $135.45. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.45 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average of $110.49 and a 200 day moving average of $117.41.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid 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 yield of 2.28%. NetApp's payout ratio is 38.52%.

Analyst Ratings Changes

NTAP has been the subject of several recent analyst reports. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and reduced their price target for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Morgan Stanley boosted their price objective on shares of NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Finally, Barclays cut their target price on shares of NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $129.07.

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.