Laird Norton Wetherby Wealth Management LLC Has $1.37 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Laird Norton Wetherby Wealth Management LLC decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,820 shares of the data storage provider’s stock after selling 105 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in NetApp were worth $1,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp in the fourth quarter worth approximately $26,000. Assetmark Inc. boosted its stake in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp in the fourth quarter worth $32,000. Itau Unibanco Holding S.A. increased its position in NetApp by 929.6% in 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 purchased a new stake in NetApp in the fourth quarter worth $35,000. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NASDAQ NTAP opened at $99.53 on Wednesday. The company has a market capitalization of $20.25 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The business’s fifty day moving average is $88.34 and its 200 day moving average is $108.81. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.09%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

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 value of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares in the company, valued at $31,755,705.60. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anders Gustafsson acquired 2,800 shares of the stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at approximately $577,668. This represents a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 37,224 shares of company stock worth $3,531,872. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on NetApp from $153.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company lowered their target price on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Barclays raised NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Wednesday, April 30th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus target price of $123.07.

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.