NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC grew its stake in NetApp, Inc. (NASDAQ:NTAP) by 7.0% in the fourth quarter, Holdings Channel reports. The fund owned 2,132 shares of the data storage provider’s stock after purchasing an additional 140 shares during the period. Lake Street Advisors Group LLC’s holdings in NetApp were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Resonant Capital Advisors LLC increased its stake in shares of NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after acquiring an additional 80 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 100 shares during the period. Wealthspire Advisors LLC grew its holdings in shares of NetApp by 4.1% during the 4th quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider’s stock worth $364,000 after purchasing an additional 123 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of NetApp by 2.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock worth $796,000 after purchasing an additional 128 shares during the period. Finally, DGS Capital Management LLC grew its holdings in shares of NetApp by 2.7% during the 4th quarter. DGS Capital Management LLC now owns 4,804 shares of the data storage provider’s stock worth $558,000 after purchasing an additional 128 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NTAP opened at $100.00 on Friday. The stock has a 50-day simple moving average of $119.85 and a 200-day simple moving average of $121.86. 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 stock has a market capitalization of $20.33 billion, a PE ratio of 18.38, a PEG ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a 1 year low of $88.49 and a 1 year high of $135.45.

NetApp Dividend Announcement

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

Insider Activity

In other news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the sale, the chief executive officer now directly owns 279,782 shares in the company, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research analyst reports. Wedbush reiterated a “neutral” rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a report on Friday. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Stifel Nicolaus increased their price target on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Northland Securities raised their target price on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Finally, 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 report on Friday. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $132.07.

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.