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

Wealthspire Advisors LLC lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 4.1% during the fourth quarter, Holdings Channel reports. The fund owned 3,132 shares of the data storage provider’s stock after purchasing an additional 123 shares during the quarter. Wealthspire Advisors LLC’s holdings in NetApp were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp during the fourth quarter worth about $26,000. Golden State Wealth Management LLC acquired a new position in NetApp in the fourth quarter worth about $35,000. True Wealth Design LLC grew its stake in NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in NetApp in the third quarter worth about $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in NetApp in the third quarter worth about $51,000. 92.17% of the stock is 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 Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares of the company’s stock, valued at $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,903 shares of company stock worth $7,260,341. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on NetApp from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Northland Securities lifted their price target on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Wedbush restated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Friday, November 22nd. Citigroup lifted their target price on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, TD Cowen lifted their target price on NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.33.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $124.49 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $120.19 and a 200-day simple moving average of $122.04. The company has a market cap of $25.31 billion, a PE ratio of 22.88, a P/E/G ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a 12-month low of $86.43 and a 12-month high of $135.45.

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.