NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,056 shares of the data storage provider’s stock after buying an additional 431 shares during the quarter. Rehmann Capital Advisory Group’s holdings in NetApp were worth $587,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in NetApp in the 4th quarter valued at about $26,000. Assetmark Inc. lifted its stake in shares of NetApp by 826.9% in 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 purchased a new position in NetApp in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new position in NetApp in the fourth quarter valued at about $35,000. Finally, Coppell Advisory Solutions LLC grew its stake in NetApp by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Down 0.0 %

NASDAQ:NTAP opened at $89.73 on Friday. The firm has a market capitalization of $18.25 billion, a P/E ratio of 16.49, a P/E/G ratio of 2.45 and a beta of 1.31. The business has a 50 day simple moving average of $90.04 and a 200 day simple moving average of $110.48. 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 12-month low of $71.84 and a 12-month high of $135.45.

NetApp Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.32%. NetApp’s dividend payout ratio is presently 38.52%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen cut their target price on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Loop Capital decreased their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Citigroup cut their target price on shares of NetApp from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Barclays upgraded NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research note on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.07.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the transaction, the executive vice president now owns 11,553 shares of the company’s stock, valued at approximately $1,395,024.75. This represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated 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 in the company, valued at approximately $20,438,269.95. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,176 shares of company stock valued at $5,095,701 in the last ninety days. Company insiders own 0.47% of the company’s stock.

About NetApp

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.