World Investment Advisors Has $1.51 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

World Investment Advisors raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 62.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,976 shares of the data storage provider’s stock after buying an additional 4,978 shares during the quarter. World Investment Advisors’ holdings in NetApp were worth $1,506,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Resonant Capital Advisors LLC raised its position in shares of NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock valued at $516,000 after buying an additional 80 shares during the last quarter. Larson Financial Group LLC increased its stake in NetApp by 2.5% during the fourth quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock valued at $438,000 after acquiring an additional 92 shares during the period. Geneos Wealth Management Inc. raised its holdings in NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock worth $337,000 after acquiring an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in NetApp by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after buying an additional 111 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 6.8 %

Shares of NTAP opened at $76.10 on Friday. The business’s fifty day moving average price is $105.85 and its two-hundred day moving average price is $116.12. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 52 week low of $74.83 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.73%. NetApp’s payout ratio is 38.52%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total transaction of $1,045,755.00. Following the sale, the chief executive officer now owns 271,282 shares of the company’s stock, valued at $33,375,824.46. The trade was a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,627 shares of company stock worth $5,498,573 over the last three months. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NTAP shares. Barclays dropped their price target on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their target price on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Loop Capital lowered their price target on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Finally, Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $129.07.

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.