Cibc World Markets Corp Buys 4,385 Shares of NetApp, Inc. (NASDAQ:NTAP)

Cibc World Markets Corp raised its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,286 shares of the data storage provider's stock after acquiring an additional 4,385 shares during the quarter. Cibc World Markets Corp's holdings in NetApp were worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NetApp during the fourth quarter valued at $26,000. Assetmark Inc. lifted its position in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 215 shares during the period. Synergy Investment Management LLC bought a new position in shares of NetApp in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management bought a new stake in shares of NetApp during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the transaction, the president now owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the sale, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,931 shares of company stock valued at $6,252,759 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

NTAP has been the subject of a number of analyst reports. TD Cowen lowered their target price 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. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Susquehanna lowered NetApp from a "positive" rating to a "neutral" rating and decreased their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Barclays cut their price target on shares of NetApp from $132.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $129.07.

NetApp Stock Down 0.8 %

Shares of NetApp stock traded down $0.73 during trading on Tuesday, reaching $94.39. The stock had a trading volume of 2,095,288 shares, compared to its average volume of 1,748,144. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 2.45 and a beta of 1.24. The stock has a fifty day moving average price of $112.05 and a two-hundred day moving average price of $117.91. NetApp, Inc. has a 52 week low of $89.88 and a 52 week high of $135.45.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio (DPR) is currently 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.