Prevail Innovative Wealth Advisors LLC Purchases New Holdings in NetApp, Inc. (NASDAQ:NTAP)

Prevail Innovative Wealth Advisors LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,551 shares of the data storage provider's stock, valued at approximately $2,502,000.

A number of other large investors have also recently made changes to their positions in NTAP. Vanguard Group Inc. increased its position in NetApp by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider's stock valued at $3,069,617,000 after acquiring an additional 429,343 shares during the period. State Street Corp raised its stake in shares of NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider's stock worth $1,267,357,000 after purchasing an additional 199,384 shares during the last quarter. Geode Capital Management LLC grew its position in NetApp by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider's stock valued at $738,280,000 after buying an additional 453,324 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in NetApp by 0.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider's stock valued at $335,215,000 after buying an additional 12,919 shares during the period. Finally, Norges Bank purchased a new position in NetApp during the 4th quarter worth $306,440,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of analyst reports. Barclays decreased their price target on NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and dropped their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Morgan Stanley raised their price target on NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Finally, TD Cowen decreased their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $129.07.

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Insider Activity at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anders Gustafsson bought 2,800 shares of NetApp stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average price of $91.00 per share, with a total value of $254,800.00. Following the completion of the acquisition, the director now directly owns 6,348 shares of the company's stock, valued at $577,668. This represents a 78.92 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 50,627 shares of company stock worth $5,498,573 over the last quarter. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded down $7.53 during trading hours on Thursday, hitting $82.96. The stock had a trading volume of 1,324,171 shares, compared to its average volume of 1,859,301. NetApp, Inc. has a 1-year low of $81.89 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 2.45 and a beta of 1.31. The stock's fifty day simple moving average is $107.74 and its 200 day simple moving average is $116.68.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.51%. NetApp's dividend payout ratio is presently 38.52%.

NetApp 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.