NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 34.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,817 shares of the data storage provider's stock after acquiring an additional 15,232 shares during the period. Cetera Investment Advisers' holdings in NetApp were worth $6,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the fourth quarter worth approximately $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 worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in NetApp during the fourth quarter worth $32,000. Itau Unibanco Holding S.A. boosted its stake in NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after buying an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in NetApp during the fourth quarter worth $35,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen lowered their price objective on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Barclays raised NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price objective on the stock in a research note on Wednesday, April 30th. Loop Capital lowered their price objective on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Susquehanna lowered NetApp from a "positive" rating to a "neutral" rating and lowered their price objective for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $123.07.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the company'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 transaction, the chief executive officer now directly owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. This represents a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anders Gustafsson acquired 2,800 shares of the stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the transaction, the director now owns 6,348 shares in the company, valued at approximately $577,668. This represents a 78.92% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 37,224 shares of company stock worth $3,531,872 in the last quarter. 0.47% of the stock is owned by company insiders.

NetApp Trading Up 0.2%

Shares of NTAP stock traded up $0.17 on Thursday, hitting $99.82. The stock had a trading volume of 1,894,379 shares, compared to its average volume of 1,918,656. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a market capitalization of $20.30 billion, a P/E ratio of 18.35, a P/E/G ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $135.45. The company's 50 day moving average price is $88.46 and its 200-day moving average price is $108.74.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.08%. NetApp's dividend payout ratio (DPR) is 38.52%.

NetApp Profile

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.