30,785 Shares in NetApp, Inc. $NTAP Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,785 shares of the data storage provider’s stock, valued at approximately $4,764,000.

A number of other hedge funds also recently made changes to their positions in NTAP. BlackRock Inc. purchased a new stake in NetApp during the second quarter valued at about $2,925,168,000. Primecap Management Co. CA purchased a new position in shares of NetApp in the 2nd quarter worth about $1,395,423,000. Norges Bank acquired a new position in shares of NetApp in the 4th quarter valued at about $458,060,000. First Trust Advisors LP lifted its stake in shares of NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after purchasing an additional 2,046,912 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of NetApp during the 2nd quarter worth about $258,093,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Down 0.9%

NASDAQ NTAP opened at $185.29 on Tuesday. The stock has a market cap of $36.36 billion, a P/E ratio of 29.13, a PEG ratio of 3.33 and a beta of 1.45. The company’s fifty day simple moving average is $176.44 and its 200-day simple moving average is $138.83. The company has a current ratio of 1.44, a quick ratio of 1.39 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.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president directly owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 2,608 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $204.48, for a total value of $533,283.84. Following the completion of the transaction, the president directly owned 46,530 shares of the company’s stock, valued at $9,514,454.40. This represents a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,072 shares of company stock worth $8,719,520 in the last ninety days. 0.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Argus raised their price target on shares of NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 1st. Susquehanna boosted their price objective on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Citigroup increased their price objective on shares of NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Bank of America raised their target price on shares of NetApp from $180.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday. Finally, UBS Group reaffirmed a “neutral” rating and set a $160.00 price target on shares of NetApp in a research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $184.08.

About NetApp

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.