Global Retirement Partners LLC Has $324,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Global Retirement Partners LLC increased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 261.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,795 shares of the data storage provider’s stock after purchasing an additional 2,021 shares during the period. Global Retirement Partners LLC’s holdings in NetApp were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Intech Investment Management LLC grew its position in shares of NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after buying an additional 24,651 shares during the period. Daiwa Securities Group Inc. grew its holdings in NetApp by 20.9% in the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after purchasing an additional 7,318 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in NetApp by 9.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock valued at $156,268,000 after purchasing an additional 113,360 shares in the last quarter. Hilton Capital Management LLC acquired a new position in shares of NetApp during the third quarter valued at about $4,059,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of NetApp by 232.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock worth $831,000 after purchasing an additional 4,705 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Down 0.8 %

NASDAQ:NTAP opened at $123.50 on Tuesday. NetApp, Inc. has a 52 week low of $86.43 and a 52 week high of $135.45. The firm has a 50-day moving average price of $120.06 and a two-hundred day moving average price of $122.03. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of analysts recently commented on NTAP shares. Barclays boosted their target price on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. StockNews.com upgraded NetApp from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Citigroup increased their target price on NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus lifted their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NetApp presently has a consensus rating of “Hold” and an average price target of $137.33.

Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction 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 in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the sale, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at approximately $31,755,705.60. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is owned by insiders.

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.