NetApp, Inc. (NASDAQ:NTAP) Director Anders Gustafsson Purchases 2,800 Shares of Stock

NetApp, Inc. (NASDAQ:NTAP) Director Anders Gustafsson bought 2,800 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the transaction, the director now owns 6,348 shares in the company, valued at $577,668. This represents a 78.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

NetApp Trading Down 0.6 %

NTAP stock opened at $87.84 on Tuesday. 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 twelve month low of $86.40 and a twelve month high of $135.45. The company has a market cap of $17.87 billion, a P/E ratio of 16.15, a PEG ratio of 2.45 and a beta of 1.24. The business has a fifty day moving average of $109.13 and a 200-day moving average of $117.06.

NetApp Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. NetApp’s payout ratio is presently 38.52%.

Analyst Ratings Changes

NTAP has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. TD Cowen lowered their price target on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Barclays cut their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. 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 report on Wednesday, February 19th. Finally, Citigroup cut their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, NetApp currently has a consensus rating of “Hold” and an average price target of $129.07.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NTAP. FMR LLC lifted its holdings in NetApp by 2.1% in the third quarter. FMR LLC now owns 267,785 shares of the data storage provider’s stock valued at $33,074,000 after buying an additional 5,636 shares during the period. Townsquare Capital LLC lifted its stake in shares of NetApp by 66.5% in the 3rd quarter. Townsquare Capital LLC now owns 5,989 shares of the data storage provider’s stock valued at $740,000 after purchasing an additional 2,392 shares during the period. Freedom Investment Management Inc. bought a new position in shares of NetApp in the 3rd quarter worth $205,000. Public Sector Pension Investment Board grew its stake in shares of NetApp by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 8,897 shares of the data storage provider’s stock worth $1,099,000 after purchasing an additional 1,000 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in NetApp by 124.2% in the third quarter. Rockefeller Capital Management L.P. now owns 42,064 shares of the data storage provider’s stock valued at $5,194,000 after purchasing an additional 23,305 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

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.