Counterpoint Mutual Funds LLC Acquires 976 Shares of NetApp, Inc. (NASDAQ:NTAP)

Counterpoint Mutual Funds LLC lifted its holdings in NetApp, Inc. (NASDAQ:NTAP) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,830 shares of the data storage provider’s stock after purchasing an additional 976 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in NetApp were worth $329,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp in the fourth quarter worth $26,000. Assetmark Inc. raised its position 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 acquiring an additional 215 shares in the last quarter. Synergy Investment Management LLC bought a new stake in NetApp during the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new stake in NetApp during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management bought a new stake in NetApp during the fourth quarter worth $39,000. Institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

NTAP has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Loop Capital dropped their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $155.00 to $130.00 in a report on Monday, February 10th. Finally, Citigroup decreased their price objective on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. 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 data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average price target of $129.07.

NetApp Trading Up 1.4 %

NTAP stock opened at $93.28 on Tuesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The company’s 50-day simple moving average is $114.43 and its 200 day simple moving average is $118.83. NetApp, Inc. has a 52 week low of $89.88 and a 52 week high of $135.45. The company has a market capitalization of $18.97 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the sale, the executive vice president now directly owns 12,005 shares in the company, valued at $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the sale, the chief executive officer now owns 266,765 shares in the company, valued at $31,755,705.60. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock worth $6,252,759 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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.