Public Employees Retirement System of Ohio purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 60,926 shares of the data storage provider’s stock, valued at approximately $9,429,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC boosted its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc bought a new position in shares of NetApp during the fourth quarter valued at $30,000. DV Equities LLC bought a new position in shares of NetApp during the fourth quarter valued at $30,000. Roble Belko & Company Inc purchased a new stake in shares of NetApp during the first quarter valued at $31,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of NetApp during the fourth quarter valued at $35,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on NTAP shares. Susquehanna boosted their target price on NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wedbush raised their price target on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price target on shares of NetApp in a research note on Tuesday, June 2nd. UBS Group restated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Finally, Northland Securities raised their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $184.08.
Insider Buying and Selling
In other NetApp news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction that occurred on Tuesday, June 23rd. The shares were 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 of the company’s stock, valued at $7,246,504.92. The trade was a 51.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the transaction, the executive vice president directly owned 30,297 shares in the company, valued at $5,872,164.54. This represents a 3.20% 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 currently owned by corporate insiders.
NetApp Stock Performance
Shares of NTAP opened at $185.29 on Tuesday. The business has a 50-day simple moving average of $176.44 and a two-hundred day simple moving average of $138.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp, Inc. has a 52 week low of $93.69 and a 52 week high of $209.06. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.33 and a beta of 1.45.
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.
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