NetApp, Inc. (NASDAQ:NTAP) Shares Purchased by J.Safra Asset Management Corp

J.Safra Asset Management Corp grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 146.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,388 shares of the data storage provider’s stock after buying an additional 1,418 shares during the period. J.Safra Asset Management Corp’s holdings in NetApp were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NTAP. Resonant Capital Advisors LLC raised its position in NetApp by 1.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock valued at $516,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. raised its position in NetApp by 22.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 100 shares during the period. Steward Partners Investment Advisory LLC raised its position in NetApp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock valued at $534,000 after purchasing an additional 111 shares during the period. Wealthspire Advisors LLC raised its holdings in shares of NetApp by 4.1% in the 4th quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider’s stock valued at $364,000 after buying an additional 123 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of NetApp by 2.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock valued at $796,000 after buying an additional 128 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the transaction, the chief executive officer now owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 452 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the transaction, the executive vice president now directly owns 11,553 shares in the company, valued at approximately $1,395,024.75. This represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock worth $7,260,341 in the last quarter. 0.47% of the stock is owned by insiders.

NetApp Trading Down 2.3 %

NASDAQ NTAP opened at $93.56 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm’s fifty day moving average price is $118.90 and its 200 day moving average price is $121.28. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12 month low of $92.59 and a 12 month high of $135.45.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.22%. NetApp’s dividend payout ratio is presently 38.52%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. TD Cowen cut their price objective on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. cut their target price on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Oppenheimer began coverage on shares of NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Stifel Nicolaus upped their target price on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Barclays cut their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, NetApp presently has a consensus rating of “Hold” and an average target price of $129.07.

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.