Paradigm Asset Management Co. LLC Invests $163,000 in NetApp, Inc. (NASDAQ:NTAP)

by · The Markets Daily

Paradigm Asset Management Co. LLC bought a new stake in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,400 shares of the data storage provider’s stock, valued at approximately $163,000.

Other hedge funds also recently added to or reduced their stakes in the company. 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 valued at $516,000 after buying an additional 80 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in NetApp by 22.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 100 shares during the period. Ballentine Partners LLC raised its position in NetApp by 4.5% during the third quarter. Ballentine Partners LLC now owns 2,756 shares of the data storage provider’s stock valued at $340,000 after acquiring an additional 118 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in NetApp by 2.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock valued at $796,000 after acquiring an additional 128 shares during the period. Finally, DGS Capital Management LLC boosted its position in NetApp by 2.7% in the 4th quarter. DGS Capital Management LLC now owns 4,804 shares of the data storage provider’s stock worth $558,000 after purchasing an additional 128 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Down 0.1 %

Shares of NTAP opened at $124.47 on Friday. The stock has a 50 day moving average price of $120.07 and a 200 day moving average price of $121.86. NetApp, Inc. has a one year low of $85.28 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 capitalization of $25.31 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.96 and a beta of 1.23.

NetApp (NASDAQ:NTAP – Get Free Report) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Equities research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares in the company, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of several recent research reports. Barclays lifted their target price on shares of NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Citigroup lifted their price objective on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday. Wedbush restated a “neutral” rating and set a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. Finally, TD Cowen lifted their price target on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.33.

Read Our Latest Analysis on NTAP

NetApp Company Profile

(Free Report)

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.

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