NEOS Investment Management LLC Buys 2,485 Shares of NetApp, Inc. (NASDAQ:NTAP)

NEOS Investment Management LLC lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 29.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,892 shares of the data storage provider’s stock after purchasing an additional 2,485 shares during the period. NEOS Investment Management LLC’s holdings in NetApp were worth $1,264,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in shares of NetApp by 2.1% in the 3rd quarter. FMR LLC now owns 267,785 shares of the data storage provider’s stock worth $33,074,000 after purchasing an additional 5,636 shares during the period. Townsquare Capital LLC raised its stake in NetApp by 66.5% during the third quarter. Townsquare Capital LLC now owns 5,989 shares of the data storage provider’s stock valued at $740,000 after buying an additional 2,392 shares during the last quarter. Freedom Investment Management Inc. bought a new stake in NetApp in the third quarter worth $205,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of NetApp by 36.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 41,206 shares of the data storage provider’s stock worth $5,089,000 after acquiring an additional 11,106 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NetApp by 5.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 182,867 shares of the data storage provider’s stock valued at $22,586,000 after acquiring an additional 8,896 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NTAP shares. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and cut their target price for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.07.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,931 shares of company stock worth $6,252,759 in the last three months. Corporate insiders own 0.47% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $88.40 on Friday. 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 stock has a market capitalization of $17.98 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The firm’s 50 day moving average price is $109.82 and its 200-day moving average price is $117.25. NetApp, Inc. has a twelve month low of $88.14 and a twelve month high of $135.45.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is presently 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.