Cibc World Market Inc. acquired a new stake in NetApp, Inc. (NASDAQ:NTAP – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 23,882 shares of the data storage provider’s stock, valued at approximately $3,696,000.
Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after purchasing an additional 210 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of NetApp in the 2nd quarter valued at $315,000. Cerity Partners LLC increased its stake in shares of NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after buying an additional 4,232 shares during the period. Bank of Nova Scotia raised its position in shares of NetApp by 7.3% during the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after acquiring an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after acquiring an additional 2,277 shares during the last quarter. 92.17% of the stock is owned by institutional investors.
NetApp Stock Performance
NTAP stock opened at $193.85 on Thursday. NetApp, Inc. has a twelve month low of $93.69 and a twelve month high of $209.06. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The company has a market cap of $38.04 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 3.35 and a beta of 1.45. The business’s fifty day moving average is $174.74 and its 200-day moving average is $137.07.
Analyst Ratings Changes
Several research firms recently issued reports on NTAP. Argus raised their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Bank of America boosted their price objective on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Susquehanna upped their target price on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $137.00 to $173.00 in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $179.77.
Get Our Latest Analysis on NTAP
Insider Buying and Selling at NetApp
In other NetApp news, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $171.09, for a total value of $38,495.25. Following the transaction, the chief accounting officer owned 1,090 shares of the company’s stock, valued at $186,488.10. The trade was a 17.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $8,758,016. 0.36% of the stock is currently owned by company insiders.
NetApp 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.
Featured Stories
- Five stocks we like better than NetApp
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding NTAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetApp, Inc. (NASDAQ:NTAP – Free Report).
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.
