Versor Investments LP Makes New Investment in NetApp, Inc. (NASDAQ:NTAP)

Versor Investments LP bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,400 shares of the data storage provider's stock, valued at approximately $395,000.

Several other hedge funds have also made changes to their positions in the company. KBC Group NV raised its holdings in NetApp by 276.9% in the 4th quarter. KBC Group NV now owns 891,033 shares of the data storage provider's stock valued at $103,431,000 after buying an additional 654,626 shares during the period. Geode Capital Management LLC raised its stake 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 during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of NetApp by 38.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider's stock valued at $152,270,000 after acquiring an additional 342,415 shares during the period. Unigestion Holding SA lifted its holdings in shares of NetApp by 926.1% in the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider's stock worth $35,022,000 after acquiring an additional 256,028 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of NetApp by 546.8% during the 4th quarter. Retirement Systems of Alabama now owns 289,504 shares of the data storage provider's stock worth $33,606,000 after purchasing an additional 244,746 shares during the period. Hedge funds and other institutional investors own 92.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTAP. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research report on Friday. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Oppenheimer initiated coverage on NetApp in a report on Wednesday, November 13th. They set a "market perform" rating for the company. Wells Fargo & Company dropped their target price on NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, Susquehanna cut 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. Twelve 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 an average target price of $130.40.

NetApp Stock Down 4.1 %

NASDAQ NTAP traded down $4.08 on Monday, hitting $95.73. 3,429,399 shares of the stock were exchanged, compared to its average volume of 1,781,472. NetApp, Inc. has a fifty-two week low of $95.18 and a fifty-two week high of $135.45. The company has a 50-day moving average price of $119.85 and a 200-day moving average price of $121.79. 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 company has a market cap of $19.46 billion, a PE ratio of 17.60, a PEG ratio of 2.45 and a beta of 1.23.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio is currently 38.52%.

Insider Activity

In other news, President Cesar Cernuda sold 22,000 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares of the company's stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 451 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the sale, the executive vice president now directly owns 12,005 shares of the company's stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is currently owned by company 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.