Mackenzie Financial Corp Grows Position in NetApp, Inc. (NASDAQ:NTAP)

Mackenzie Financial Corp raised its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 373.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,504 shares of the data storage provider's stock after purchasing an additional 192,062 shares during the period. Mackenzie Financial Corp owned approximately 0.12% of NetApp worth $28,266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the 4th quarter valued at $26,000. Assetmark Inc. boosted its position 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 bought a new position in shares of NetApp during the fourth quarter valued at about $32,000. Itau Unibanco Holding S.A. grew its stake in shares of NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock valued at $32,000 after buying an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp in the fourth quarter worth about $35,000. Institutional investors own 92.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded NetApp to an "outperform" rating in a research report on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. TD Cowen lowered their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $121.40.

NetApp Stock Down 0.7%

NASDAQ:NTAP traded down $0.70 during mid-day trading on Wednesday, hitting $99.67. 1,810,889 shares of the company's stock were exchanged, compared to its average volume of 1,918,687. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The business has a fifty day moving average price of $89.88 and a 200 day moving average price of $107.46. The company has a market cap of $20.27 billion, a PE ratio of 18.32, a P/E/G ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were paid a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.09%. NetApp's dividend payout ratio is currently 38.52%.

Insider Activity

In related news, Director Anders Gustafsson purchased 2,800 shares of NetApp stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the purchase, the director now directly owns 6,348 shares of the company's stock, valued at $577,668. The trade was a 78.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O'callahan sold 528 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares of the company's stock, valued at $1,194,282. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock worth $2,520,032 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

NetApp Company 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.