Fox Run Management L.L.C. Takes $2.05 Million Position in NetApp, Inc. (NASDAQ:NTAP)

Fox Run Management L.L.C. purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,696 shares of the data storage provider’s stock, valued at approximately $2,054,000. NetApp accounts for about 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 13th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $26,000. Assetmark Inc. increased its stake in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC purchased a new stake in NetApp during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new stake in NetApp during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management purchased a new stake in NetApp during the 4th quarter worth approximately $39,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays cut their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $130.00 in a research report on Monday, February 10th. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus increased their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.07.

NetApp Stock Up 0.2 %

Shares of NASDAQ:NTAP opened at $92.25 on Friday. The stock has a market cap of $18.76 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.45 and a beta of 1.24. The firm has a fifty day moving average price of $112.44 and a 200 day moving average price of $118.08. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a 1-year low of $89.88 and a 1-year high of $135.45.

NetApp Announces Dividend

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

Insider Buying and Selling

In related news, President Cesar Cernuda sold 22,000 shares of the 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 completion of the sale, the president now owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the sale, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 in the last 90 days. Company insiders own 0.47% of the company’s stock.

NetApp 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.