NetApp, Inc. (NASDAQ:NTAP) Stock Position Increased by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. raised its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,887,795 shares of the data storage provider’s stock after purchasing an additional 12,919 shares during the period. NetApp accounts for approximately 1.8% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 24th biggest position. Beutel Goodman & Co Ltd. owned approximately 1.42% of NetApp worth $335,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp in the 4th quarter worth approximately $26,000. Assetmark Inc. grew its stake in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC acquired a new position in shares of NetApp during the fourth quarter valued at $32,000. Golden State Wealth Management LLC acquired a new position in shares of NetApp during the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new stake in NetApp in the fourth quarter worth about $39,000. Institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NTAP has been the topic of several research analyst reports. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Loop Capital lowered their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company cut their target price on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Barclays lowered their price target on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $129.07.

Insider Activity

In other NetApp news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated 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 transaction, the president now owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the company’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 completion of the transaction, the chief financial officer now owns 123,243 shares in the company, valued at $14,880,359.82. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Down 3.0 %

Shares of NASDAQ:NTAP opened at $88.40 on Friday. The firm has a 50 day simple moving average of $109.82 and a 200 day simple moving average of $117.23. NetApp, Inc. has a 52 week low of $88.14 and a 52 week high of $135.45. 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 cap of $17.98 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.35%. NetApp’s dividend payout ratio (DPR) is presently 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.