New Age Alpha Advisors LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,307 shares of the data storage provider's stock, valued at approximately $2,473,000.
Other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NetApp in the 4th quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in shares of 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 acquiring an additional 215 shares in the last quarter. Synergy Investment Management LLC acquired a new position in shares of NetApp in the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new stake in shares of NetApp during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management acquired a new stake in NetApp during the fourth quarter valued at $39,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on NTAP. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Loop Capital dropped their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. StockNews.com cut shares of NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wedbush restated a "neutral" rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and reduced their price objective for the company from $155.00 to $130.00 in a research note on Monday, February 10th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $129.07.
Read Our Latest Research Report on NetApp
NetApp Stock Performance
NTAP traded down $7.94 during midday trading on Thursday, reaching $82.55. The company's stock had a trading volume of 649,915 shares, compared to its average volume of 1,856,707. NetApp, Inc. has a twelve month low of $81.89 and a twelve month high of $135.45. The stock has a market cap of $16.79 billion, a P/E ratio of 15.17, a PEG ratio of 2.45 and a beta of 1.31. The company has a fifty day simple moving average of $107.74 and a 200 day simple moving average of $116.68. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.
NetApp Announces Dividend
The business 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 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio (DPR) is currently 38.52%.
Insider Activity at NetApp
In related news, President Cesar Cernuda sold 19,696 shares of NetApp 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 sale, the president now directly owns 11,928 shares of the company's stock, valued at $1,075,309.20. This trade represents a 62.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the transaction, the chief executive officer now directly owns 271,282 shares of the company's stock, valued at approximately $33,375,824.46. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,627 shares of company stock worth $5,498,573 in the last ninety days. 0.47% of the stock is currently owned by insiders.
About NetApp
(
Free Report)
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.
Featured Articles
Before you consider NetApp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NetApp wasn't on the list.
While NetApp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
