GAMMA Investing LLC Has $382,000 Position in NetApp, Inc. (NASDAQ:NTAP)

GAMMA Investing LLC lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 17.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,291 shares of the data storage provider’s stock after buying an additional 486 shares during the quarter. GAMMA Investing LLC’s holdings in NetApp were worth $382,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NTAP. AQR Capital Management LLC increased its position in NetApp by 59.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,643,146 shares of the data storage provider’s stock worth $211,637,000 after buying an additional 613,583 shares during the period. Geode Capital Management LLC grew its stake in shares of NetApp by 8.2% in the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock valued at $738,280,000 after acquiring an additional 453,324 shares in the last quarter. APG Asset Management US Inc. bought a new position in NetApp during the second quarter worth about $48,074,000. Robeco Institutional Asset Management B.V. raised its stake in NetApp by 38.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,232,852 shares of the data storage provider’s stock worth $152,270,000 after purchasing an additional 342,415 shares in the last quarter. Finally, Unigestion Holding SA boosted its holdings in NetApp by 926.1% in the 3rd quarter. Unigestion Holding SA now owns 283,674 shares of the data storage provider’s stock valued at $35,022,000 after purchasing an additional 256,028 shares during the period. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction 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 owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,864 shares of company stock valued at $6,185,830. Corporate insiders own 0.47% of the company’s stock.

NetApp Stock Up 0.9 %

Shares of NASDAQ:NTAP opened at $118.00 on Tuesday. The firm has a market cap of $23.99 billion, a P/E ratio of 21.69, a P/E/G ratio of 2.92 and a beta of 1.23. NetApp, Inc. has a 12-month low of $83.62 and a 12-month high of $135.45. The business has a fifty day simple moving average of $121.06 and a 200 day simple moving average of $123.44. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Analysts predict that NetApp, Inc. will post 5.83 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. NetApp’s payout ratio is currently 38.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTAP. Barclays raised their target price on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. TD Cowen lifted their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company increased their target price on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised NetApp from a “neutral” rating to an “overweight” rating and set a $160.00 price target for the company in a research note on Monday, December 16th. Finally, Morgan Stanley increased their price objective on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.20.

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.