276 Shares in NetApp, Inc. (NASDAQ:NTAP) Acquired by Synergy Investment Management LLC

Synergy Investment Management LLC bought a new stake in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 276 shares of the data storage provider’s stock, valued at approximately $32,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NetApp in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in NetApp in the fourth quarter valued at approximately $35,000. True Wealth Design LLC boosted its position in NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after buying an additional 340 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in NetApp in the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in NetApp in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on shares of NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Citigroup cut their price target on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company cut their price target 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. cut their price target on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. 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, the stock presently has a consensus rating of “Hold” and an average price target of $129.07.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction 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. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the completion of the sale, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,903 shares of company stock valued at $7,260,341. Corporate insiders own 0.47% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $94.87 on Thursday. NetApp, Inc. has a twelve month low of $92.59 and a twelve month high of $135.45. The firm has a fifty day simple moving average of $118.42 and a 200 day simple moving average of $121.10. The company has a market capitalization of $19.30 billion, a PE ratio of 17.44, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Dividend Announcement

The business 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

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.