Railway Pension Investments Ltd Increases Position in NetApp, Inc. $NTAP

Railway Pension Investments Ltd increased its position in NetApp, Inc. (NASDAQ:NTAP) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531,250 shares of the data storage provider’s stock after acquiring an additional 16,100 shares during the period. NetApp makes up about 1.0% of Railway Pension Investments Ltd’s portfolio, making the stock its 29th biggest holding. Railway Pension Investments Ltd owned about 0.27% of NetApp worth $82,216,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NTAP. Park Square Financial Group LLC raised its stake in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in NetApp in the 4th quarter worth approximately $30,000. DV Equities LLC purchased a new position in NetApp during the 4th quarter worth approximately $30,000. Roble Belko & Company Inc acquired a new stake in NetApp during the 1st quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of NetApp in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NTAP shares. Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $137.00 to $173.00 in a research note on Monday, August 10th. Bank of America upped their price target on shares of NetApp from $180.00 to $206.00 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen downgraded NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company boosted their price target on NetApp from $115.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $184.08.

NetApp Stock Performance

NASDAQ:NTAP opened at $185.29 on Tuesday. The company has a fifty day moving average of $176.44 and a two-hundred day moving average of $138.83. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $209.06. The stock has a market capitalization of $36.36 billion, a PE ratio of 29.13, a P/E/G ratio of 3.33 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president directly owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 2,608 shares of NetApp stock in a transaction on Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the sale, the president directly owned 46,530 shares in the company, valued at approximately $9,514,454.40. This trade represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 55,072 shares of company stock valued at $8,719,520. 0.36% of the stock is owned by company insiders.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.