IFP Advisors Inc Purchases 235 Shares of NetApp, Inc. (NASDAQ:NTAP)

IFP Advisors Inc boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,256 shares of the data storage provider’s stock after acquiring an additional 235 shares during the quarter. IFP Advisors Inc’s holdings in NetApp were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in NetApp in the fourth quarter valued at $26,000. Golden State Wealth Management LLC bought a new position in NetApp in the fourth quarter valued at $35,000. True Wealth Design LLC increased its stake in NetApp by 2,833.3% in the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 340 shares during the last quarter. Capital Performance Advisors LLP bought a new position in NetApp in the third quarter valued at $44,000. Finally, Ashton Thomas Securities LLC bought a new position in NetApp in the third quarter valued at $51,000. Institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares in the company, valued at $3,116,114.01. This trade represents a 44.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at $1,402,063.95. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,903 shares of company stock worth $7,260,341 over the last three months. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NTAP. Citigroup increased their target price on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut their price target on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research report on Friday. Wedbush restated a “neutral” rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday. Oppenheimer began coverage on shares of NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Finally, Stifel Nicolaus upped their price target on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $132.07.

NetApp Stock Performance

NetApp stock opened at $100.00 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 50-day moving average of $119.85 and a 200-day moving average of $121.83. The firm has a market cap of $20.33 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.45 and a beta of 1.23. NetApp, Inc. has a 1-year low of $88.49 and a 1-year high of $135.45.

NetApp Dividend Announcement

The business 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. The ex-dividend date is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.08%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

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.