AG Asset Advisory LLC Takes $587,000 Position in NetApp, Inc. (NASDAQ:NTAP)

AG Asset Advisory LLC purchased a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,056 shares of the data storage provider’s stock, valued at approximately $587,000. NetApp comprises approximately 0.6% of AG Asset Advisory LLC’s investment portfolio, making the stock its 14th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the 4th quarter worth $26,000. Assetmark Inc. increased its holdings in NetApp by 826.9% during the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new stake in NetApp in the fourth quarter worth about $32,000. Itau Unibanco Holding S.A. boosted its stake in NetApp by 929.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock valued at $32,000 after acquiring an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in NetApp in the fourth quarter valued at about $35,000. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares of the company’s stock, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,724 shares of company stock worth $2,520,032 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Down 1.8%

Shares of NASDAQ:NTAP opened at $98.00 on Tuesday. The firm has a fifty day moving average price of $89.71 and a two-hundred day moving average price of $107.51. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 18.01, 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.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Friday, April 4th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, April 4th. NetApp’s dividend payout ratio is 38.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Loop Capital decreased their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Evercore ISI reduced their price objective on NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a report on Monday, April 28th. Citigroup boosted their target price on NetApp from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Morgan Stanley reiterated a “cautious” rating on shares of NetApp in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. decreased their price objective on NetApp from $153.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $121.40.

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.