New Age Alpha Advisors LLC Buys Shares of 21,307 NetApp, Inc. (NASDAQ:NTAP)

New Age Alpha Advisors LLC purchased a new stake in NetApp, Inc. (NASDAQ:NTAP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 21,307 shares of the data storage provider’s stock, valued at approximately $2,473,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTAP. M&T Bank Corp lifted its position in shares of NetApp by 4.8% during the 4th quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock valued at $1,485,000 after acquiring an additional 581 shares during the period. Versor Investments LP acquired a new position in NetApp during the fourth quarter worth $395,000. AMJ Financial Wealth Management raised its holdings in NetApp by 120.7% during the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in NetApp by 9.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after purchasing an additional 113,360 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in NetApp by 232.2% in the third quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider’s stock valued at $831,000 after purchasing an additional 4,705 shares during 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 issued reports on NTAP. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Finally, TD Cowen reduced their target price on NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $129.07.

NetApp Stock Down 3.0 %

Shares of NASDAQ:NTAP opened at $88.40 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 $17.98 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.45 and a beta of 1.24. The stock’s 50-day moving average price is $109.82 and its two-hundred day moving average price is $117.25. NetApp, Inc. has a 12-month low of $88.14 and a 12-month high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 is presently 38.52%.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 528 shares of NetApp stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares in the company, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares in the company, valued at approximately $31,755,705.60. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,931 shares of company stock worth $6,252,759. 0.47% of the stock is owned by company insiders.

NetApp Company 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.