Assetmark Inc. Grows Position in NetApp, Inc. (NASDAQ:NTAP)

Assetmark Inc. boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 826.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 241 shares of the data storage provider’s stock after buying an additional 215 shares during the quarter. Assetmark Inc.’s holdings in NetApp were worth $28,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp in the fourth quarter valued at about $26,000. Synergy Investment Management LLC purchased a new position in shares of NetApp in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new position in shares of NetApp in the fourth quarter valued at about $35,000. True Wealth Design LLC lifted its position in shares of 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 in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of NetApp in the fourth quarter valued at about $52,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 528 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the completion of the sale, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. This represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 over the last 90 days. Company insiders own 0.47% of the company’s stock.

NetApp Stock Up 2.1 %

Shares of NASDAQ NTAP opened at $91.98 on Monday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.45 and a beta of 1.24. The stock has a 50 day moving average price of $114.93 and a 200 day moving average price of $119.02. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. NetApp’s dividend payout ratio is currently 38.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays lowered their price objective on NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Loop Capital reduced their target price on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Stifel Nicolaus lifted their target price on NetApp from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, StockNews.com cut NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $129.07.

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.