Victory Capital Management Inc. boosted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 734,918 shares of the data storage provider's stock after purchasing an additional 129,914 shares during the period. Victory Capital Management Inc. owned about 0.36% of NetApp worth $85,309,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp in the fourth quarter worth about $26,000. Synergy Investment Management LLC bought a new stake in NetApp in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new stake in NetApp in the 4th quarter worth approximately $35,000. True Wealth Design LLC increased its stake in NetApp by 2,833.3% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider's stock worth $43,000 after acquiring an additional 340 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in NetApp in the 3rd quarter worth approximately $44,000. 92.17% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at NetApp
In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares in the company, valued at approximately $14,880,359.82. This represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the 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 sale, the chief executive officer now directly owns 279,782 shares of the company's stock, valued at approximately $34,774,104.78. This represents a 2.95 % 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 worth $7,260,341. 0.47% of the stock is currently owned by insiders.
NetApp Stock Up 2.1 %
NASDAQ:NTAP traded up $1.91 during mid-day trading on Friday, hitting $93.77. 2,480,918 shares of the company's stock traded hands, compared to its average volume of 1,856,425. The company has a fifty day moving average of $117.43 and a 200 day moving average of $120.56. NetApp, Inc. has a twelve month low of $91.16 and a twelve month high of $135.45. The company has a market capitalization of $19.07 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.
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 paid a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.22%. NetApp's payout ratio is presently 38.52%.
Analyst Ratings Changes
A number of research firms have issued reports on NTAP. Northland Securities lifted their price objective on NetApp from $108.00 to $120.00 and gave the stock a "market perform" rating in a research note on Friday, November 22nd. Morgan Stanley lifted their target price on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. TD Cowen dropped their target price on NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Finally, Susquehanna cut NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, NetApp has an average rating of "Hold" and a consensus target price of $129.07.
Get Our Latest Stock Analysis on NetApp
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.
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