iSAM Funds UK Ltd Makes New $346,000 Investment in NetApp, Inc. (NASDAQ:NTAP)

iSAM Funds UK Ltd bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,979 shares of the data storage provider’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the 4th quarter worth $26,000. Assetmark Inc. raised its stake in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of NetApp during the 4th quarter valued at about $32,000. Itau Unibanco Holding S.A. raised its stake in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock valued at $32,000 after buying an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter valued at about $35,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Susquehanna lowered 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. JPMorgan Chase & Co. cut their price target on NetApp from $153.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. TD Cowen cut their price target on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Wedbush restated a “neutral” rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $121.40.

NetApp Trading Down 0.5%

Shares of NetApp stock opened at $101.06 on Wednesday. The stock has a market cap of $20.56 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.45 and a beta of 1.40. The stock’s 50 day simple moving average is $89.23 and its 200-day simple moving average is $108.19. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the transaction, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This represents a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,724 shares of company stock worth $2,520,032. Insiders own 0.47% of the company’s stock.

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.