Envestnet Portfolio Solutions Inc. Raises Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Envestnet Portfolio Solutions Inc. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,578 shares of the data storage provider’s stock after acquiring an additional 2,658 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in NetApp were worth $3,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp during the 4th quarter valued at $26,000. Assetmark Inc. increased its position in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after buying an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in NetApp in the fourth quarter worth about $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of NetApp during the fourth quarter worth about $39,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Trading Up 1.4 %

NTAP stock opened at $93.53 on Thursday. 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, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. The company’s 50-day simple moving average is $113.44 and its 200-day simple moving average is $118.46. The firm has a market cap of $19.03 billion, a P/E ratio of 17.19, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Loop Capital dropped their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company reduced 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. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus raised their price objective on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $129.07.

Insider Activity at NetApp

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares in the company, valued at approximately $14,880,359.82. This trade represents a 9.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 528 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now owns 12,900 shares of the company’s stock, valued at $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is owned by company insiders.

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.