CoreCap Advisors LLC Purchases Shares of 890 NetApp, Inc. (NASDAQ:NTAP)

CoreCap Advisors LLC purchased a new stake in shares of NetApp, Inc. (NASDAQ:NTAP – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 890 shares of the data storage provider’s stock, valued at approximately $53,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ten Capital Wealth Advisors LLC bought a new stake in shares of NetApp during the 3rd quarter worth $27,000. Romano Brothers AND Company bought a new stake in shares of NetApp during the 4th quarter worth $57,000. Global Wealth Strategies & Associates bought a new stake in shares of NetApp during the 4th quarter worth $72,000. Quadrant Capital Group LLC boosted its stake in shares of NetApp by 12.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,321 shares of the data storage provider’s stock worth $82,000 after acquiring an additional 148 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of NetApp by 9,100.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,380 shares of the data storage provider’s stock worth $83,000 after acquiring an additional 1,365 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $65.04, for a total transaction of $292,680.00. Following the transaction, the chief executive officer now directly owns 147,170 shares in the company, valued at $9,571,936.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO George Kurian sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $65.04, for a total value of $292,680.00. Following the sale, the chief executive officer now directly owns 147,170 shares of the company’s stock, valued at $9,571,936.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Cesar Cernuda sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $60.09, for a total value of $1,081,620.00. Following the completion of the sale, the president now directly owns 44,829 shares in the company, valued at $2,693,774.61. The disclosure for this sale can be found here. Insiders have sold a total of 29,250 shares of company stock worth $1,806,885 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Credit Suisse Group lowered NetApp from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 23rd. Raymond James reduced their target price on NetApp from $75.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, April 11th. Deutsche Bank Aktiengesellschaft reduced their target price on NetApp from $74.00 to $70.00 in a report on Thursday, February 23rd. Susquehanna reduced their target price on NetApp from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, February 23rd. Finally, Citigroup reduced their target price on NetApp from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $74.24.

NetApp Price Performance

NASDAQ NTAP opened at $66.35 on Thursday. NetApp, Inc. has a fifty-two week low of $58.08 and a fifty-two week high of $79.09. The stock’s 50-day moving average is $64.50 and its two-hundred day moving average is $65.03. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.34 and a quick ratio of 1.29. The firm has a market cap of $14.19 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20.

NetApp Company Profile

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NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.

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