Lifeworks Advisors LLC Grows Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Lifeworks Advisors LLC lifted its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,976 shares of the data storage provider's stock after purchasing an additional 3,522 shares during the period. Lifeworks Advisors LLC's holdings in NetApp were worth $2,899,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp during the 4th quarter valued at $26,000. Assetmark Inc. increased its position in shares of NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares during the period. Synergy Investment Management LLC bought a new position in NetApp in the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in NetApp in the fourth quarter worth about $35,000. Finally, True Wealth Design LLC lifted its holdings in NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider's stock worth $43,000 after buying an additional 340 shares during the period. 92.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays decreased their target price on NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the stock a "market perform" rating in a report on Friday, November 22nd. Wells Fargo & Company dropped their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. TD Cowen reduced their target price 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. Finally, Morgan Stanley lifted their price target on shares of NetApp from $132.00 to $146.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, NetApp has a consensus rating of "Hold" and an average target price of $129.07.

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NetApp Trading Up 2.1 %

Shares of NTAP stock opened at $93.77 on Friday. 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 stock has a fifty day simple moving average of $117.43 and a two-hundred day simple moving average of $120.63. The firm has a market capitalization of $19.07 billion, a PE ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 52-week low of $91.16 and a 52-week high of $135.45.

NetApp Dividend Announcement

The firm 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio is currently 38.52%.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the completion of the transaction, the chief executive officer now directly owns 279,782 shares of the company's stock, valued at approximately $34,774,104.78. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Cesar Cernuda sold 22,000 shares of the business's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was 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. 0.47% of the stock is owned by company insiders.

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.

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