M&T Bank Corp boosted its holdings in NetApp Inc. (NASDAQ:NTAP) by 13.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,393 shares of the data storage provider’s stock after buying an additional 2,563 shares during the period. M&T Bank Corp’s holdings in NetApp were worth $1,183,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Exane Derivatives increased its stake in NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock worth $105,000 after buying an additional 2,394 shares in the last quarter. IFP Advisors Inc increased its stake in NetApp by 45.3% in the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after buying an additional 801 shares in the last quarter. First Personal Financial Services increased its stake in NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock worth $121,000 after buying an additional 2,754 shares in the last quarter. Quantbot Technologies LP purchased a new stake in NetApp in the 3rd quarter worth $131,000. Finally, Summit Securities Group LLC purchased a new stake in NetApp in the 4th quarter worth $210,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
NetApp Inc. (NASDAQ:NTAP) opened at $56.51 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.91 and a quick ratio of 1.88. NetApp Inc. has a 1-year low of $37.43 and a 1-year high of $64.06. The company has a market cap of $15,076.40, a PE ratio of 20.25, a P/E/G ratio of 1.74 and a beta of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Friday, April 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, April 5th. NetApp’s payout ratio is -1,000.00%.
In related news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $55.91, for a total value of $110,478.16. Following the completion of the transaction, the executive vice president now owns 11,884 shares of the company’s stock, valued at approximately $664,434.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 7,020 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.48, for a total transaction of $417,549.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,342 shares of company stock valued at $3,491,981. 0.47% of the stock is owned by insiders.
A number of equities research analysts have issued reports on the company. DA Davidson upgraded NetApp from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Thursday, February 15th. Citigroup increased their price target on NetApp from $53.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. BMO Capital Markets increased their price target on NetApp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, February 13th. Finally, Deutsche Bank increased their price target on NetApp from $37.00 to $40.00 and gave the stock a “sell” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $56.31.
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NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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