Globeflex Capital L P Purchases 2,000 Shares of NetApp, Inc. (NASDAQ:NTAP)

Globeflex Capital L P lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) by 93.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,151 shares of the data storage provider’s stock after acquiring an additional 2,000 shares during the quarter. Globeflex Capital L P’s holdings in NetApp were worth $249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ten Capital Wealth Advisors LLC bought a new stake in shares of NetApp during the third quarter worth $27,000. CoreCap Advisors LLC bought a new stake in NetApp in the fourth quarter valued at about $53,000. Romano Brothers AND Company bought a new stake in NetApp in the fourth quarter valued at about $57,000. Ameliora Wealth Management Ltd. bought a new stake in NetApp in the third quarter valued at about $73,000. Finally, Global Wealth Strategies & Associates bought a new stake in NetApp in the fourth quarter valued at about $72,000. Institutional investors own 87.92% of the company’s stock.

NetApp Price Performance

NetApp stock traded up $0.81 during mid-day trading on Friday, reaching $69.55. 121,236 shares of the company were exchanged, compared to its average volume of 1,898,706. The company has a fifty day simple moving average of $64.00 and a 200-day simple moving average of $65.11. NetApp, Inc. has a 12 month low of $58.08 and a 12 month high of $79.09. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.34 and a quick ratio of 1.29. The firm has a market cap of $14.88 billion, a PE ratio of 11.83, a PEG ratio of 1.71 and a beta of 1.20.

NetApp (NASDAQ:NTAP – Get Rating) last issued its earnings results on Wednesday, February 22nd. The data storage provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.06. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. NetApp had a return on equity of 103.19% and a net margin of 19.93%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. As a group, equities research analysts expect that NetApp, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 4,500 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $65.04, for a total value of $292,680.00. Following the sale, the chief executive officer now owns 147,170 shares of the company’s stock, valued at approximately $9,571,936.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NetApp news, CEO George Kurian sold 4,500 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $65.04, for a total value of $292,680.00. Following the sale, the chief executive officer now owns 147,170 shares of the company’s stock, valued at approximately $9,571,936.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Cesar Cernuda sold 18,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $60.09, for a total value of $1,081,620.00. Following the sale, the president now directly owns 44,829 shares in the company, valued at approximately $2,693,774.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,250 shares of company stock valued at $1,806,885. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com assumed coverage on NetApp in a report on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. lowered their price target on NetApp from $75.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 23rd. Citigroup reduced their price objective on NetApp from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. Stifel Nicolaus raised NetApp from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, April 10th. Finally, UBS Group reduced their price objective on NetApp from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, February 23rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.24.

NetApp Company Profile

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NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.