NetApp, Inc. (NASDAQ:NTAP) Director Anders Gustafsson Buys 2,800 Shares

NetApp, Inc. (NASDAQ:NTAP) Director Anders Gustafsson bought 2,800 shares of NetApp stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the acquisition, the director now owns 6,348 shares in the company, valued at $577,668. The trade was a 78.92 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NetApp Stock Up 1.9 %

Shares of NTAP stock opened at $89.49 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12 month low of $86.40 and a 12 month high of $135.45. The stock has a market cap of $18.20 billion, a P/E ratio of 16.45, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a 50 day simple moving average of $108.45 and a two-hundred day simple moving average of $116.86.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 annualized dividend and a yield of 2.32%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Morgan Stanley lifted their price target on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Barclays dropped their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Loop Capital decreased their target price on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Wedbush reissued a “neutral” rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $129.07.

Institutional Trading of NetApp

Hedge funds have recently bought and sold shares of the stock. Resonant Capital Advisors LLC lifted its position in shares of NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock valued at $516,000 after buying an additional 80 shares in the last quarter. Larson Financial Group LLC raised its stake in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock worth $438,000 after acquiring an additional 92 shares during the period. Geneos Wealth Management Inc. lifted its holdings in NetApp by 22.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of NetApp by 3.6% in the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock worth $337,000 after purchasing an additional 100 shares during the period. Finally, Coppell Advisory Solutions LLC increased its stake in shares of NetApp by 50.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

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.