XTX Topco Ltd Takes $458,000 Position in NetApp, Inc. (NASDAQ:NTAP)

XTX Topco Ltd acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,947 shares of the data storage provider’s stock, valued at approximately $458,000.

Several other hedge funds also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp in the 4th quarter worth about $26,000. Assetmark Inc. increased its position in shares of NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of NetApp in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new position in NetApp in the fourth quarter worth approximately $35,000. Finally, OFI Invest Asset Management bought a new stake in NetApp during the 4th quarter valued at $39,000. Institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen cut their price target on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wedbush reissued a “neutral” rating and set a $110.00 price objective (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Citigroup dropped their target price on NetApp from $110.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Finally, Loop Capital decreased their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Twelve equities research 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 presently has a consensus rating of “Hold” and an average target price of $125.07.

Insider Buying and Selling at NetApp

In other news, CFO Michael J. Berry sold 12,500 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the sale, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. This represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the transaction, the president now directly owns 11,928 shares of the company’s stock, valued at $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,176 shares of company stock valued at $5,445,901. 0.47% of the stock is owned by insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $82.61 on Monday. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The business’s 50 day moving average price is $96.24 and its 200 day moving average price is $112.72. 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 firm has a market cap of $16.80 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.45 and a beta of 1.31.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.52%. NetApp’s dividend payout ratio (DPR) 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.