NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,989 shares of the data storage provider’s stock after selling 2,188 shares during the quarter. Moran Wealth Management LLC’s holdings in NetApp were worth $24,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp during the 4th quarter worth approximately $26,000. Assetmark Inc. lifted its holdings in shares of NetApp by 826.9% in 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 during the period. Synergy Investment Management LLC acquired a new stake in NetApp during the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in NetApp during the fourth quarter valued at approximately $35,000. Finally, OFI Invest Asset Management purchased a new position in NetApp during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $130.00 in a report on Monday, February 10th. Barclays reduced their target price on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $129.07.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,500 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the transaction, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at $31,755,705.60. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction dated 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 sale, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. This trade represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

NetApp Trading Up 2.1 %

Shares of NASDAQ NTAP opened at $93.77 on Monday. 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 stock has a market capitalization of $19.07 billion, a PE ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. The stock has a fifty day simple moving average of $117.43 and a 200-day simple moving average of $120.47. NetApp, Inc. has a twelve month low of $91.16 and a twelve month 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

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.