Inceptionr LLC Acquires New Shares in NetApp, Inc. (NASDAQ:NTAP)

Inceptionr LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,089 shares of the data storage provider’s stock, valued at approximately $2,216,000. NetApp makes up approximately 0.5% of Inceptionr LLC’s portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp in the fourth quarter valued at about $26,000. Assetmark Inc. grew its stake in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new position in NetApp in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new position in NetApp in the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC grew its stake 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 purchasing an additional 340 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

NetApp Trading Up 1.4 %

Shares of NASDAQ:NTAP opened at $94.87 on Thursday. NetApp, Inc. has a 12-month low of $92.59 and a 12-month high of $135.45. The company has a market capitalization of $19.30 billion, a PE ratio of 17.44, a PEG ratio of 2.45 and a beta of 1.24. The business has a 50 day moving average of $118.42 and a two-hundred day moving average of $121.10. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is presently 38.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their price target on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday. Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Northland Securities boosted their price target on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and upped their target price for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Finally, Morgan Stanley upped their target price on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $129.07.

Insider Buying and Selling at NetApp

In other 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 completion of the transaction, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at $34,774,104.78. This represents a 2.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the transaction, the executive vice president now directly owns 11,553 shares of the company’s stock, valued at approximately $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is owned by company insiders.

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.