Parallel Advisors LLC Purchases 430 Shares of NetApp, Inc. (NASDAQ:NTAP)

Parallel Advisors LLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,747 shares of the data storage provider’s stock after acquiring an additional 430 shares during the quarter. Parallel Advisors LLC’s holdings in NetApp were worth $435,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Natixis Advisors LLC raised its stake in NetApp by 66.0% during the 3rd quarter. Natixis Advisors LLC now owns 72,137 shares of the data storage provider’s stock valued at $8,910,000 after purchasing an additional 28,693 shares during the period. Thrivent Financial for Lutherans raised its position in shares of NetApp by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 92,817 shares of the data storage provider’s stock valued at $11,463,000 after buying an additional 592 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of NetApp by 19.6% in the third quarter. Caprock Group LLC now owns 9,348 shares of the data storage provider’s stock worth $1,155,000 after buying an additional 1,530 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of NetApp in the third quarter worth $744,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of NetApp during the third quarter worth $2,618,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the sale, the chief executive officer now owns 271,282 shares in the company, valued at approximately $33,375,824.46. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is currently owned by insiders.

NetApp Trading Up 0.2 %

NTAP opened at $92.25 on Friday. NetApp, Inc. has a one year low of $89.88 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock has a market cap of $18.76 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.45 and a beta of 1.24. The stock’s 50 day moving average price is $112.44 and its 200-day moving average price is $118.08.

NetApp Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on NTAP shares. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Citigroup dropped their price target on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. decreased their price objective on NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Susquehanna downgraded NetApp from a “positive” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $129.07.

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.