J.Safra Asset Management Corp Increases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

J.Safra Asset Management Corp raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 146.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,388 shares of the data storage provider’s stock after purchasing an additional 1,418 shares during the quarter. J.Safra Asset Management Corp’s holdings in NetApp were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC boosted its holdings in NetApp by 1.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after buying an additional 80 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 100 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of NetApp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider’s stock worth $534,000 after acquiring an additional 111 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in shares of NetApp by 4.1% in the 4th quarter. Wealthspire Advisors LLC now owns 3,132 shares of the data storage provider’s stock worth $364,000 after acquiring an additional 123 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in NetApp by 2.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,448 shares of the data storage provider’s stock valued at $796,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush reiterated a “neutral” rating and set a $110.00 target price (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Barclays decreased their price objective on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of NetApp from $160.00 to $153.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Northland Securities upped their price target on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. 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 report on Friday, November 22nd. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $129.07.

NetApp Trading Down 2.3 %

Shares of NetApp stock opened at $93.56 on Wednesday. NetApp, Inc. has a fifty-two week low of $92.59 and a fifty-two week high of $135.45. The firm has a market cap of $19.03 billion, a PE ratio of 17.20, a P/E/G ratio of 2.45 and a beta of 1.24. The business’s fifty day moving average is $118.90 and its two-hundred day moving average is $121.28. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.22%. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Insider Buying and Selling

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the transaction, the chief executive officer now owns 279,782 shares of the company’s stock, valued at $34,774,104.78. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares in the company, valued at $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is owned by company insiders.

NetApp 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.