Atria Investments Inc Sells 1,009 Shares of NetApp, Inc. (NASDAQ:NTAP)

Atria Investments Inc lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAPFree Report) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,333 shares of the data storage provider’s stock after selling 1,009 shares during the quarter. Atria Investments Inc’s holdings in NetApp were worth $851,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the 4th quarter valued at $26,000. Assetmark Inc. increased its position in shares of 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 shares of NetApp during the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new stake in shares of NetApp during the fourth quarter worth about $35,000. Finally, True Wealth Design LLC increased its holdings in NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,431 shares of company stock worth $7,309,224 over the last quarter. 0.47% of the stock is currently owned by company insiders.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $90.06 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 1-year low of $89.88 and a 1-year high of $135.45. The stock has a fifty day simple moving average of $115.43 and a two-hundred day simple moving average of $119.48.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. NetApp’s dividend payout ratio is presently 38.52%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of recent research reports. Barclays decreased their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company reduced their target price 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. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, TD Cowen reduced their target price on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus price target of $129.07.

Check Out Our Latest Report on NetApp

NetApp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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