Cibc World Markets Corp Has $3.75 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Cibc World Markets Corp raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 15.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,286 shares of the data storage provider’s stock after purchasing an additional 4,385 shares during the quarter. Cibc World Markets Corp’s holdings in NetApp were worth $3,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its position in shares of NetApp by 11.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,096 shares of the data storage provider’s stock worth $127,000 after buying an additional 115 shares during the period. Gallacher Capital Management LLC increased its stake in shares of NetApp by 27.3% in the 4th quarter. Gallacher Capital Management LLC now owns 4,694 shares of the data storage provider’s stock valued at $545,000 after acquiring an additional 1,006 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of NetApp by 1.7% in the 4th quarter. Corient Private Wealth LLC now owns 64,226 shares of the data storage provider’s stock valued at $7,456,000 after acquiring an additional 1,066 shares in the last quarter. Gitterman Wealth Management LLC increased its stake in shares of NetApp by 6.4% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,900 shares of the data storage provider’s stock valued at $221,000 after acquiring an additional 114 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of NetApp by 11.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 26,578 shares of the data storage provider’s stock valued at $3,085,000 after acquiring an additional 2,658 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NTAP. Stifel Nicolaus lifted their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Barclays lowered their price objective on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. StockNews.com lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, TD Cowen decreased their price target 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $129.07.

Insider Buying and Selling

In related news, CFO Michael J. Berry sold 12,500 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the transaction, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now directly owns 27,099 shares in the company, 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. In the last ninety days, insiders have sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is owned by insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $92.10 on Friday. The company’s 50-day moving average is $112.92 and its 200 day moving average is $118.27. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The company has a market capitalization of $18.73 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a fifty-two week low of $89.88 and a fifty-two week high of $135.45.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

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.