NetApp, Inc. $NTAP Shares Purchased by Railway Pension Investments Ltd

Railway Pension Investments Ltd boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 531,250 shares of the data storage provider’s stock after acquiring an additional 16,100 shares during the quarter. NetApp makes up 1.0% of Railway Pension Investments Ltd’s investment portfolio, making the stock its 29th biggest position. Railway Pension Investments Ltd’s holdings in NetApp were worth $82,216,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. West Financial Advisors LLC acquired a new position in shares of NetApp in the 2nd quarter worth approximately $37,000. Park Square Financial Group LLC boosted its position in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares during the period. Gen Wealth Partners Inc acquired a new position in NetApp during the 4th quarter worth about $30,000. DV Equities LLC purchased a new position in NetApp during the 4th quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in NetApp during the 3rd quarter valued at about $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NetApp

In related news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the transaction, the executive vice president directly owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 55,072 shares of company stock valued at $8,719,520. Company insiders own 0.36% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $185.29 on Tuesday. The business has a 50 day moving average price of $176.44 and a 200 day moving average price of $138.83. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.33 and a beta of 1.45. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $209.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wedbush raised their price objective on shares of NetApp from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings upgraded NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Citigroup boosted their price objective on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. upped their target price on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Northland Securities lifted their price target on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $184.08.

NetApp Company Profile

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.