Creative Financial Designs Inc. ADV Purchases 115 Shares of NetApp, Inc. (NASDAQ:NTAP)

Creative Financial Designs Inc. ADV raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,096 shares of the data storage provider’s stock after acquiring an additional 115 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in NetApp were worth $127,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp grew its stake in shares of NetApp by 4.8% in the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after buying an additional 581 shares in the last quarter. Versor Investments LP acquired a new stake in shares of NetApp in the fourth quarter valued at approximately $395,000. Intech Investment Management LLC boosted its stake in shares of NetApp by 8.9% during the 3rd quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after acquiring an additional 24,651 shares during the period. AMJ Financial Wealth Management lifted its holdings in NetApp by 120.7% during the 4th quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock valued at $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in NetApp by 20.9% during the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after purchasing an additional 7,318 shares during the period. 92.17% of the stock is owned by institutional investors.

NetApp Price Performance

Shares of NTAP opened at $92.10 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The stock has a market cap of $18.73 billion, a PE ratio of 16.93, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 12-month low of $89.88 and a 12-month high of $135.45. The business has a 50-day simple moving average of $112.92 and a two-hundred day simple moving average of $118.27.

NetApp Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 528 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. This represents a 3.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the business’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 owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock valued at $6,252,759 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research analyst reports. Bank of America upgraded NetApp from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Loop Capital dropped their price target on shares of NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday, February 19th. TD Cowen dropped their price target on NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $129.07.

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.