NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 176.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,499 shares of the data storage provider's stock after acquiring an additional 9,901 shares during the period. Tower Research Capital LLC TRC's holdings in NetApp were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. boosted its stake in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of NetApp in the 4th quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp in the 4th quarter worth $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of NetApp during the 4th quarter worth $39,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and reduced their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wedbush reissued a "neutral" rating and set a $110.00 target price (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, Barclays decreased their price target on NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, NetApp presently has an average rating of "Hold" and a consensus price target of $125.07.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O'callahan sold 452 shares of NetApp stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the transaction, the executive vice president now owns 11,553 shares in the company, valued at $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,676 shares of company stock worth $4,400,146. Company insiders own 0.47% of the company's stock.

NetApp Price Performance

NetApp stock opened at $82.45 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a market cap of $16.77 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. The company's 50 day moving average is $94.81 and its two-hundred day moving average is $112.22.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.52%. 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.

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