Talos Asset Management LP Takes Position in NetApp, Inc. (NASDAQ:NTAP)

Talos Asset Management LP purchased a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,500 shares of the data storage provider's stock, valued at approximately $4,469,000. NetApp comprises about 1.1% of Talos Asset Management LP's holdings, making the stock its 21st biggest position.

Several other institutional investors also recently added to or reduced their stakes in NTAP. Natixis Advisors LLC increased its position 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 raised its stake in NetApp by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 92,817 shares of the data storage provider's stock valued at $11,463,000 after acquiring an additional 592 shares during the period. Quest Partners LLC raised its stake in NetApp by 24.5% in the 3rd quarter. Quest Partners LLC now owns 9,461 shares of the data storage provider's stock valued at $1,169,000 after acquiring an additional 1,864 shares during the period. Caprock Group LLC lifted its holdings in NetApp by 19.6% during the third 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 during the last quarter. Finally, Prospera Financial Services Inc bought a new position in NetApp during the third quarter worth about $744,000. Institutional investors own 92.17% of the company's stock.

NetApp Price Performance

Shares of NTAP traded up $2.87 during midday trading on Monday, reaching $95.12. The stock had a trading volume of 2,170,438 shares, compared to its average volume of 1,748,623. 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 company 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. The company's 50-day moving average is $112.44 and its 200 day moving average is $118.06. NetApp, Inc. has a 12-month low of $89.88 and a 12-month high of $135.45.

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NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's payout ratio is currently 38.52%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, EVP Elizabeth M. O'callahan sold 528 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares in the company, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the company's stock in a transaction on 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 sale, the president now owns 27,099 shares of the company's stock, valued at $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is currently owned by corporate insiders.

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.