NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the data storage provider’s stock after purchasing an additional 114 shares during the quarter. Gitterman Wealth Management LLC’s holdings in NetApp were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp during the fourth quarter worth about $26,000. Assetmark Inc. boosted 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 during the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new position in NetApp in the 4th quarter valued at $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of NetApp during the 4th quarter worth $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Susquehanna cut shares of NetApp from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Barclays dropped their price target on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Wedbush reiterated a “neutral” rating and issued a $110.00 price target (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $129.07.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the transaction, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now directly owns 279,782 shares in the company, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,431 shares of company stock valued at $7,309,224 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $91.98 on Friday. 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 1-year low of $89.88 and a 1-year high of $135.45. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.45 and a beta of 1.24. The business has a 50-day moving average of $114.93 and a 200-day moving average of $119.11.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is presently 38.52%.

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.