2,673 Shares in NetApp, Inc. $NTAP Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,673 shares of the data storage provider’s stock, valued at approximately $285,000.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in NetApp during the 1st quarter valued at about $25,000. Manchester Capital Management LLC increased its position in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 225 shares during the period. Olde Wealth Management LLC purchased a new position in NetApp during the 1st quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its position in NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Finally, Summit Securities Group LLC purchased a new position in NetApp during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Stock Down 1.1%

NTAP stock opened at $118.72 on Friday. The firm has a 50 day moving average of $114.37 and a 200 day moving average of $102.68. The stock has a market capitalization of $23.70 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.45. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be paid a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp’s dividend payout ratio (DPR) is 36.75%.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president directly owned 23,628 shares in the company, valued at $2,922,074.76. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the sale, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,529 shares of company stock worth $3,350,714 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research reports. Northland Securities raised their target price on shares of NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. UBS Group raised their target price on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Saturday, September 27th. JPMorgan Chase & Co. raised their price target on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Barclays raised their price target on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $124.07.

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.