NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. boosted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 6.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 71,531 shares of the data storage provider's stock after purchasing an additional 4,632 shares during the period. Northwest & Ethical Investments L.P.'s holdings in NetApp were worth $8,303,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Resonant Capital Advisors LLC boosted its holdings 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 acquiring an additional 80 shares in the last quarter. Larson Financial Group LLC increased its position in NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock worth $438,000 after purchasing an additional 92 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock worth $64,000 after buying an additional 100 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after buying an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after buying an additional 111 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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NetApp Trading Down 0.8 %

Shares of NetApp stock traded down $0.73 during trading hours on Tuesday, reaching $94.39. 2,095,288 shares of the company's stock were exchanged, compared to its average volume of 1,748,144. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a fifty day moving average of $112.05 and a 200-day moving average of $117.91. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.20%. NetApp's payout ratio is currently 38.52%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NTAP shares. Citigroup decreased their target price on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. TD Cowen lowered 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. Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and increased their target price for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. Morgan Stanley boosted their price target on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a report on Wednesday, February 19th. Twelve investment 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 presently has an average rating of "Hold" and a consensus target price of $129.07.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the sale, the chief executive officer now owns 266,765 shares in the company, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O'callahan sold 528 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares of the company's stock, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,931 shares of company stock worth $6,252,759. 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.