Advisor OS LLC Invests $567,000 in NetApp, Inc. (NASDAQ:NTAP)

Advisor OS LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, Holdings Channel reports. The fund bought 4,883 shares of the data storage provider’s stock, valued at approximately $567,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp in the 4th quarter worth about $26,000. Golden State Wealth Management LLC acquired a new stake in NetApp during the 4th quarter worth approximately $35,000. True Wealth Design LLC raised its holdings in NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after buying an additional 340 shares during the period. Capital Performance Advisors LLP acquired a new position in NetApp during the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in NetApp during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Up 1.5 %

NASDAQ NTAP opened at $124.49 on Thursday. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 12 month low of $86.43 and a 12 month high of $135.45. The company’s fifty day moving average price is $120.19 and its two-hundred day moving average price is $122.04.

Insider Transactions at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares in the company, valued at $34,774,104.78. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,903 shares of company stock valued at $7,260,341. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Northland Securities raised their target price on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Oppenheimer began coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Citigroup upped their target price on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. TD Cowen raised their target price on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company reduced their price target on NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $137.33.

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.