Canada Post Corp Registered Pension Plan Invests $432,000 in NetApp, Inc. (NASDAQ:NTAP)

Canada Post Corp Registered Pension Plan acquired a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,725 shares of the data storage provider's stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Promethos Capital LLC raised its holdings in shares of NetApp by 2,693.9% in the 4th quarter. Promethos Capital LLC now owns 23,273 shares of the data storage provider's stock valued at $2,702,000 after acquiring an additional 22,440 shares in the last quarter. XTX Topco Ltd purchased a new stake in NetApp in the fourth quarter valued at approximately $458,000. Belpointe Asset Management LLC lifted its position in NetApp by 74.8% during the fourth quarter. Belpointe Asset Management LLC now owns 5,491 shares of the data storage provider's stock valued at $663,000 after purchasing an additional 2,349 shares during the last quarter. Mariner LLC increased its holdings in shares of NetApp by 1.9% in the 4th quarter. Mariner LLC now owns 500,117 shares of the data storage provider's stock worth $58,054,000 after buying an additional 9,154 shares during the last quarter. Finally, Savvy Advisors Inc. raised its position in shares of NetApp by 14.4% during the 4th quarter. Savvy Advisors Inc. now owns 1,982 shares of the data storage provider's stock valued at $230,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 19,696 shares of the company's stock in a transaction on Friday, March 28th. The stock was 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 of the company's stock, valued at $1,075,309.20. This represents a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anders Gustafsson acquired 2,800 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $91.00 per share, with a total value of $254,800.00. Following the transaction, the director now directly owns 6,348 shares of the company's stock, valued at approximately $577,668. This trade represents a 78.92 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 50,176 shares of company stock valued at $5,445,901 over the last three months. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush reissued a "neutral" rating and issued a $110.00 target price (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Barclays cut their target price on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Citigroup decreased their price target on shares of NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, TD Cowen lowered their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $125.07.

NetApp Trading Down 2.0 %

NASDAQ:NTAP traded down $1.63 during trading hours on Monday, hitting $80.98. The company had a trading volume of 170,961 shares, compared to its average volume of 1,923,149. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The stock has a 50-day moving average price of $96.24 and a 200 day moving average price of $112.72. The company has a market capitalization of $16.47 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio is currently 38.52%.

About NetApp

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.