Shelton Capital Management Purchases 40,002 Shares of NetApp, Inc. (NASDAQ:NTAP)

Shelton Capital Management raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 27.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,141 shares of the data storage provider's stock after buying an additional 40,002 shares during the quarter. Shelton Capital Management owned about 0.09% of NetApp worth $21,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock valued at $3,069,617,000 after purchasing an additional 429,343 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 453,324 shares in the last quarter. Invesco Ltd. increased its position in shares of NetApp by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider's stock valued at $362,544,000 after buying an additional 529,471 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its holdings in NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock worth $335,215,000 after acquiring an additional 12,919 shares in the last quarter. Finally, Norges Bank bought a new position in NetApp during the fourth quarter worth about $306,440,000. 92.17% of the stock is owned by institutional investors.

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NetApp Stock Performance

NetApp stock traded up $0.36 during midday trading on Friday, reaching $82.64. 2,738,498 shares of the company's stock were exchanged, compared to its average volume of 1,917,005. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The stock's 50-day simple moving average is $100.27 and its 200 day simple moving average is $114.11.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.52%. NetApp's dividend payout ratio is currently 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the sale, the chief executive officer now owns 271,282 shares in the company, valued at $33,375,824.46. The trade was a 3.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This represents a 62.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,176 shares of company stock valued at $5,445,901 in the last three months. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on NTAP shares. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Loop Capital dropped their price objective on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Barclays dropped 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. Finally, JPMorgan Chase & Co. dropped their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have assigned 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 target price 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.