Wealthspire Advisors LLC Boosts Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Wealthspire Advisors LLC raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,132 shares of the data storage provider’s stock after acquiring an additional 123 shares during the period. Wealthspire Advisors LLC’s holdings in NetApp were worth $364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC raised its stake in shares of NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after buying an additional 80 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after buying an additional 100 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of NetApp by 2.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock worth $796,000 after buying an additional 128 shares in the last quarter. DGS Capital Management LLC raised its stake in shares of NetApp by 2.7% during the 4th quarter. DGS Capital Management LLC now owns 4,804 shares of the data storage provider’s stock worth $558,000 after buying an additional 128 shares in the last quarter. Finally, Empirical Finance LLC raised its stake in shares of NetApp by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 7,383 shares of the data storage provider’s stock worth $912,000 after buying an additional 136 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Price Performance

NTAP stock opened at $124.49 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The stock’s fifty day simple moving average is $120.19 and its 200-day simple moving average is $122.04. NetApp, Inc. has a 52-week low of $86.43 and a 52-week high of $135.45.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 over the last three months. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Morgan Stanley raised their price objective on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. TD Cowen raised their price objective on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, StockNews.com raised NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.33.

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.