AMJ Financial Wealth Management Buys 37,684 Shares of NetApp, Inc. (NASDAQ:NTAP)

AMJ Financial Wealth Management increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 120.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 68,897 shares of the data storage provider’s stock after purchasing an additional 37,684 shares during the quarter. NetApp accounts for 2.2% of AMJ Financial Wealth Management’s holdings, making the stock its 21st biggest holding. AMJ Financial Wealth Management’s holdings in NetApp were worth $7,998,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp during the fourth quarter worth $26,000. Synergy Investment Management LLC bought a new stake in shares of NetApp in the 4th quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter worth about $35,000. True Wealth Design LLC grew its holdings in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 340 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in NetApp in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the sale, the chief financial officer now owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. This represents a 9.21 % decrease in their position. 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. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTAP. Barclays dropped their target price on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday. Stifel Nicolaus boosted their price objective on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 22nd. StockNews.com lowered NetApp from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup lowered their target price on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $130.40.

NetApp Trading Down 4.1 %

NTAP opened at $95.73 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a 12 month low of $95.18 and a 12 month high of $135.45. The stock has a fifty day moving average price of $119.41 and a 200-day moving average price of $121.54.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued 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 2.17%. NetApp’s dividend payout ratio is presently 38.52%.

NetApp 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.