Price T Rowe Associates Inc. MD Acquires 1,723 Shares of NetApp, Inc. (NASDAQ:NTAP)

Price T Rowe Associates Inc. MD grew its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,313 shares of the data storage provider’s stock after buying an additional 1,723 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.18% of NetApp worth $41,362,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp during the fourth quarter valued at approximately $26,000. Assetmark Inc. increased its position in shares of NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp during the 4th quarter valued at $32,000. Golden State Wealth Management LLC purchased a new position in NetApp during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management purchased a new position in NetApp during the fourth quarter worth $39,000. Institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of NetApp stock in a transaction on Monday, February 10th. The shares were 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 of the company’s stock, valued at approximately $1,395,024.75. The trade was a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares of the company’s stock, valued at approximately $20,438,269.95. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,176 shares of company stock worth $5,095,701. 0.47% of the stock is owned by corporate insiders.

NetApp Trading Down 0.2 %

Shares of NASDAQ:NTAP opened at $87.86 on Wednesday. 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 company has a market capitalization of $17.87 billion, a PE ratio of 16.15, a P/E/G ratio of 2.45 and a beta of 1.31. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The business’s fifty day simple moving average is $91.41 and its 200-day simple moving average is $110.88.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. NetApp’s dividend payout ratio is presently 38.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NTAP shares. JPMorgan Chase & Co. dropped their price target on shares of NetApp from $153.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Citigroup decreased their price target on NetApp from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wedbush reiterated a “neutral” rating and issued a $110.00 target price (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.07.

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.