Beutel Goodman & Co Ltd. Purchases 12,919 Shares of NetApp, Inc. (NASDAQ:NTAP)

Beutel Goodman & Co Ltd. increased its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,887,795 shares of the data storage provider's stock after purchasing an additional 12,919 shares during the quarter. NetApp comprises about 1.8% of Beutel Goodman & Co Ltd.'s holdings, making the stock its 24th largest position. Beutel Goodman & Co Ltd. owned 1.42% of NetApp worth $335,215,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp during the 4th quarter valued at $26,000. Assetmark Inc. boosted its stake in 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 purchased a new position in NetApp during the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in NetApp in the 4th quarter worth about $35,000. Finally, OFI Invest Asset Management bought a new position in NetApp in the 4th quarter worth about $39,000. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now owns 123,243 shares of the company's stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 19,696 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the transaction, the president now directly owns 11,928 shares of the company's stock, valued at approximately $1,075,309.20. The trade was a 62.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,627 shares of company stock worth $5,498,573. 0.47% of the stock is currently owned by company insiders.

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NetApp Trading Up 1.5 %

Shares of NetApp stock traded up $1.35 on Wednesday, hitting $90.84. The stock had a trading volume of 509,652 shares, compared to its average volume of 1,853,623. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a one year low of $86.40 and a one year high of $135.45. The stock's 50-day simple moving average is $108.45 and its two-hundred day simple moving average is $116.86. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 2.45 and a beta of 1.24.

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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen cut their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. StockNews.com cut shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Barclays dropped their price objective on shares of NetApp from $132.00 to $115.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, Loop Capital reduced their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.07.

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.