Inceptionr LLC Acquires Shares of 19,089 NetApp, Inc. (NASDAQ:NTAP)

Inceptionr LLC purchased a new position in shares of 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 institutional investor purchased 19,089 shares of the data storage provider's stock, valued at approximately $2,216,000. NetApp makes up 0.5% of Inceptionr LLC's investment portfolio, making the stock its 15th biggest position.

Several other large investors have also made changes to their positions in the business. Resonant Capital Advisors LLC grew its position in shares of NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. lifted its stake in NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after buying an additional 100 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in NetApp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock worth $534,000 after buying an additional 111 shares during the last quarter. Wealthspire Advisors LLC lifted its position in shares of NetApp by 4.1% in the fourth quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider's stock valued at $364,000 after acquiring an additional 123 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in NetApp by 2.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider's stock valued at $796,000 after purchasing an additional 128 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the completion of the transaction, the chief executive officer now owns 279,782 shares of the company's stock, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Cesar Cernuda sold 22,000 shares of the company's stock in a transaction on 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 sale, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,903 shares of company stock valued at $7,260,341. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. TD Cowen dropped their price target on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Oppenheimer initiated coverage on NetApp in a report on Wednesday, November 13th. They issued a "market perform" rating for the company. Wedbush reissued a "neutral" rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, Northland Securities raised their target price on NetApp from $108.00 to $120.00 and gave the stock a "market perform" rating in a research note on Friday, November 22nd. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $129.07.

NetApp Trading Down 1.8 %

Shares of NTAP stock traded down $1.72 during trading hours on Monday, hitting $92.05. The company had a trading volume of 2,146,470 shares, compared to its average volume of 1,862,870. 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 company's fifty day moving average is $117.43 and its 200 day moving average is $120.47. NetApp, Inc. has a fifty-two week low of $90.12 and a fifty-two week high of $135.45. The stock has a market capitalization of $18.72 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.26%. NetApp's dividend payout ratio is presently 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.