EP Wealth Advisors LLC Has $1.46 Million Position in NetApp, Inc. (NASDAQ:NTAP)

EP Wealth Advisors LLC decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,598 shares of the data storage provider’s stock after selling 516 shares during the period. EP Wealth Advisors LLC’s holdings in NetApp were worth $1,462,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Barclays PLC increased its holdings in NetApp by 31.4% during the 3rd quarter. Barclays PLC now owns 784,339 shares of the data storage provider’s stock worth $96,873,000 after purchasing an additional 187,638 shares in the last quarter. Principal Financial Group Inc. raised its position in NetApp by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 282,467 shares of the data storage provider’s stock valued at $34,888,000 after buying an additional 1,271 shares during the last quarter. Czech National Bank lifted its stake in NetApp by 6.0% during the 4th quarter. Czech National Bank now owns 44,401 shares of the data storage provider’s stock valued at $5,154,000 after acquiring an additional 2,526 shares in the last quarter. Brookstone Capital Management purchased a new position in NetApp during the 4th quarter worth $222,000. Finally, Cooper Financial Group bought a new stake in shares of NetApp in the 4th quarter worth $207,000. 92.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on NTAP shares. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and cut their price target for the stock from $155.00 to $130.00 in a report on Monday, February 10th. Wells Fargo & Company decreased their price target on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. 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 report on Thursday, April 17th. Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Evercore ISI lowered their price objective on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $123.07.

NetApp Stock Down 1.1 %

NTAP opened at $93.44 on Friday. The firm has a market capitalization of $19.01 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45. The company has a fifty day moving average price of $88.11 and a 200-day moving average price of $109.16. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, April 4th. NetApp’s payout ratio is 38.52%.

Insider Buying and Selling

In related 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 transaction, the executive vice president now owns 11,553 shares of the company’s stock, valued at $1,395,024.75. This represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the sale, the president now owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,676 shares of company stock worth $3,586,451. 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.