Savvy Advisors Inc. Buys 250 Shares of NetApp, Inc. (NASDAQ:NTAP)

Savvy Advisors Inc. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 14.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,982 shares of the data storage provider’s stock after buying an additional 250 shares during the quarter. Savvy Advisors Inc.’s holdings in NetApp were worth $230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. M&T Bank Corp lifted its stake in shares of NetApp by 4.8% in 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 last quarter. Versor Investments LP bought a new position in NetApp in the fourth quarter valued at about $395,000. AMJ Financial Wealth Management boosted its stake in shares of NetApp by 120.7% during the fourth 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 in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of 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 valued at $156,268,000 after purchasing an additional 113,360 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of NetApp during the fourth quarter worth about $5,151,000. Institutional investors own 92.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and cut their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. TD Cowen reduced their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Citigroup lowered their price objective on NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday. Twelve equities 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, NetApp has an average rating of “Hold” and an average target price of $127.73.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the sale, the chief executive officer now owns 271,282 shares of the company’s stock, valued at approximately $33,375,824.46. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the transaction, the executive vice president now directly owns 11,553 shares in the company, valued at $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,176 shares of company stock valued at $5,445,901 in the last three months. Corporate insiders own 0.47% of the company’s stock.

NetApp Stock Down 1.3 %

Shares of NASDAQ NTAP opened at $82.18 on Wednesday. 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 firm has a market cap of $16.72 billion, a PE ratio of 15.11, a P/E/G ratio of 2.45 and a beta of 1.31. The company’s fifty day simple moving average is $98.62 and its 200 day simple moving average is $113.63. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.53%. NetApp’s dividend payout ratio 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.