Captrust Financial Advisors Buys 1,513 Shares of NetApp, Inc. (NASDAQ:NTAP)

Captrust Financial Advisors increased its stake in NetApp, Inc. (NASDAQ:NTAP) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,654 shares of the data storage provider’s stock after buying an additional 1,513 shares during the period. Captrust Financial Advisors’ holdings in NetApp were worth $3,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the fourth quarter valued at approximately $26,000. Assetmark Inc. raised its position in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of NetApp during the 4th quarter worth $32,000. Itau Unibanco Holding S.A. grew its position in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after buying an additional 251 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the fourth quarter valued at $35,000. Institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research reports. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Susquehanna cut NetApp from a “positive” rating to a “neutral” rating and dropped their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Citigroup reduced their price target on NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research report on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.07.

NetApp Trading Down 1.1 %

Shares of NASDAQ:NTAP opened at $93.44 on Friday. The business has a 50-day moving average price of $88.11 and a 200-day moving average price of $109.09. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.45 and a beta of 1.40. NetApp, Inc. has a 52-week low of $71.84 and a 52-week high of $135.45. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

Insider Transactions at NetApp

In other NetApp news, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the transaction, the president now owns 11,928 shares in the company, valued at approximately $1,075,309.20. This trade represents a 62.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was 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. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,676 shares of company stock worth $3,586,451 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

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.