NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its stake in NetApp, Inc. (NASDAQ:NTAP) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,920 shares of the data storage provider’s stock after purchasing an additional 400 shares during the period. Hillsdale Investment Management Inc.’s holdings in NetApp were worth $919,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in NetApp by 2.0% in the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock valued at $1,267,357,000 after purchasing an additional 199,384 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after buying an additional 453,324 shares in the last quarter. Boston Partners grew its stake in NetApp by 53.9% in the 4th quarter. Boston Partners now owns 2,083,189 shares of the data storage provider’s stock valued at $241,867,000 after acquiring an additional 729,394 shares during the last quarter. Amundi increased its holdings in NetApp by 25.7% during the 4th quarter. Amundi now owns 1,948,917 shares of the data storage provider’s stock valued at $228,492,000 after acquiring an additional 397,871 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after acquiring an additional 113,360 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTAP. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Citigroup decreased their price objective on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $129.07.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the completion of the sale, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is currently owned by company insiders.

NetApp Price Performance

Shares of NetApp stock opened at $92.25 on Monday. The business’s fifty day moving average price is $112.44 and its 200 day moving average price is $118.06. NetApp, Inc. has a twelve month low of $89.88 and a twelve month high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $18.76 billion, a P/E ratio of 16.96, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

NetApp Company 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.