NetApp, Inc. (NASDAQ:NTAP - Get Free Report) Director Anders Gustafsson bought 2,800 shares of the business's stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $91.00 per share, for a total transaction of $254,800.00. Following the completion of the acquisition, the director now owns 6,348 shares of the company's stock, valued at approximately $577,668. This trade represents a 78.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
NetApp Stock Down 0.6 %
NASDAQ:NTAP opened at $87.84 on Tuesday. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a twelve month low of $86.40 and a twelve month high of $135.45. The stock's 50 day moving average price is $109.13 and its two-hundred day moving average price is $117.06.
NetApp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio is currently 38.52%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp during the fourth quarter worth about $26,000. Assetmark Inc. lifted its position in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after buying an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of NetApp during the 4th quarter worth approximately $32,000. Itau Unibanco Holding S.A. increased its holdings in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in NetApp in the 4th quarter valued at $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently commented on NTAP. Morgan Stanley raised their price objective on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their price objective on NetApp from $160.00 to $153.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Citigroup dropped their target price on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, TD Cowen reduced their price target on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $129.07.
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About NetApp
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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.
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