AIMZ Investment Advisors LLC Sells 977 Shares of NetApp, Inc. (NASDAQ:NTAP)

AIMZ Investment Advisors LLC reduced its position in NetApp, Inc. (NASDAQ:NTAP) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,324 shares of the data storage provider’s stock after selling 977 shares during the quarter. NetApp comprises approximately 2.4% of AIMZ Investment Advisors LLC’s portfolio, making the stock its 9th biggest position. AIMZ Investment Advisors LLC’s holdings in NetApp were worth $6,770,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NetApp during the 4th quarter worth $26,000. Golden State Wealth Management LLC acquired a new stake in shares of NetApp during the fourth quarter worth about $35,000. True Wealth Design LLC grew its holdings in shares of NetApp by 2,833.3% during the third quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock worth $43,000 after buying an additional 340 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in NetApp in the 3rd quarter valued at about $44,000. Finally, Ashton Thomas Securities LLC purchased a new stake in NetApp during the 3rd quarter valued at approximately $51,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the transaction, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction on 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 owns 27,099 shares in the company, valued at $3,116,114.01. This represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NTAP shares. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup lifted their price objective on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and issued a $120.00 target price on shares of NetApp in a report on Friday, November 22nd. Finally, Morgan Stanley increased their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $137.33.

NetApp Trading Down 5.0 %

Shares of NTAP stock opened at $118.22 on Friday. The stock has a market cap of $24.03 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.45 and a beta of 1.23. 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 fifty-two week low of $86.43 and a fifty-two week high of $135.45. The business has a fifty day simple moving average of $120.22 and a 200-day simple moving average of $122.02.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. NetApp’s payout ratio is currently 38.24%.

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.