21,551 Shares in NetApp, Inc. (NASDAQ:NTAP) Bought by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC acquired a new stake in NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,551 shares of the data storage provider’s stock, valued at approximately $2,502,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NetApp in the fourth quarter worth about $26,000. Assetmark Inc. boosted its position in NetApp by 826.9% in the 4th 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 stake in shares of NetApp during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter valued at approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of NetApp in the 4th quarter valued at $39,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NTAP shares. Wedbush reissued a “neutral” rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. TD Cowen decreased their target price on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Morgan Stanley boosted their target price on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $129.07.

Insider Transactions at NetApp

In related news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the sale, the chief financial officer now owns 123,243 shares of the company’s stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 12,900 shares of the company’s stock, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,931 shares of company stock valued at $6,252,759. Corporate insiders own 0.47% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $88.40 on Friday. The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24. 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 50-day simple moving average of $109.82 and a 200-day simple moving average of $117.25. NetApp, Inc. has a one year low of $88.14 and a one year high of $135.45.

NetApp Dividend Announcement

The firm also recently disclosed 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 2.35%. The ex-dividend date 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.