NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers increased its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 34.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 58,817 shares of the data storage provider’s stock after buying an additional 15,232 shares during the quarter. Cetera Investment Advisers’ holdings in NetApp were worth $6,828,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of NetApp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,443,974 shares of the data storage provider’s stock valued at $3,069,617,000 after buying an additional 429,343 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NetApp by 14.5% in the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider’s stock valued at $815,402,000 after acquiring an additional 888,671 shares in the last quarter. Invesco Ltd. grew its holdings in shares of NetApp by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,123,228 shares of the data storage provider’s stock worth $362,544,000 after buying an additional 529,471 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of NetApp by 0.4% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider’s stock worth $335,215,000 after buying an additional 12,919 shares in the last quarter. Finally, Northern Trust Corp increased its stake in NetApp by 24.2% in the fourth quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider’s stock valued at $327,848,000 after purchasing an additional 550,607 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Loop Capital dropped their target price on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. TD Cowen decreased their target price on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Susquehanna downgraded 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 report on Monday, February 10th. StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their price objective on NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.07.

NetApp Stock Up 5.3%

Shares of NTAP opened at $98.43 on Tuesday. The company has a market capitalization of $20.02 billion, a P/E ratio of 18.09, a PEG ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The business’s 50 day simple moving average is $88.19 and its 200-day simple moving average is $108.87.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the company’s 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 completion of the sale, the chief executive officer now owns 266,765 shares in the company, valued at $31,755,705.60. This represents a 3.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now owns 11,928 shares of the company’s stock, valued at approximately $1,075,309.20. This represents a 62.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,224 shares of company stock worth $3,531,872 in the last quarter. Insiders own 0.47% of the company’s stock.

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.