NetApp, Inc. (NASDAQ:NTAP) Shares Bought by OV Management LLC

OV Management LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,012 shares of the data storage provider’s stock after buying an additional 851 shares during the quarter. OV Management LLC’s holdings in NetApp were worth $1,510,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp in the fourth quarter worth approximately $26,000. Assetmark Inc. lifted its position in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC acquired a new position in shares of NetApp during the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in NetApp in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new stake in NetApp in the fourth quarter valued at $39,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Down 0.6 %

NASDAQ:NTAP opened at $87.84 on Tuesday. NetApp, Inc. has a 12-month low of $86.40 and a 12-month 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. The stock’s 50 day simple moving average is $109.13 and its 200-day simple moving average is $117.06. The firm has a market cap of $17.87 billion, a P/E ratio of 16.15, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.37%. NetApp’s dividend payout ratio is currently 38.52%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction of $54,579.00. Following the sale, the executive vice president now directly owns 11,553 shares in the company, valued at approximately $1,395,024.75. The trade was a 3.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the completion of the transaction, the chief executive officer now owns 271,282 shares of the company’s stock, valued at $33,375,824.46. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,627 shares of company stock worth $5,498,573. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTAP. Morgan Stanley upped their price objective on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Loop Capital dropped their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating 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 research report on Wednesday, February 19th. Finally, Wedbush reissued a “neutral” rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $129.07.

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.