Envestnet Portfolio Solutions Inc. Purchases 2,658 Shares of NetApp, Inc. (NASDAQ:NTAP)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,578 shares of the data storage provider’s stock after acquiring an additional 2,658 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in NetApp were worth $3,085,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. State Street Corp grew its stake in NetApp by 2.0% during the third quarter. State Street Corp now owns 10,261,170 shares of the data storage provider’s stock valued at $1,267,357,000 after acquiring an additional 199,384 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NetApp by 8.2% in the third quarter. Geode Capital Management LLC now owns 5,985,673 shares of the data storage provider’s stock worth $738,280,000 after purchasing an additional 453,324 shares during the last quarter. Amundi increased its holdings in shares of NetApp by 25.7% in the fourth quarter. Amundi now owns 1,948,917 shares of the data storage provider’s stock worth $228,492,000 after purchasing an additional 397,871 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of NetApp by 9.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,346,212 shares of the data storage provider’s stock worth $156,268,000 after buying an additional 113,360 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in NetApp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,287,432 shares of the data storage provider’s stock valued at $149,445,000 after buying an additional 27,857 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America raised NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wedbush restated 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. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Northland Securities upped their price objective on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Twelve investment 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 currently has an average rating of “Hold” and an average price target of $129.07.

NetApp Price Performance

NetApp stock opened at $93.53 on Thursday. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The firm has a 50-day moving average of $113.44 and a two-hundred day moving average of $118.46. NetApp, Inc. has a 1 year low of $89.88 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Announces Dividend

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

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 transaction of $2,529,780.00. Following the transaction, the president now owns 27,099 shares of the company’s stock, valued at approximately $3,116,114.01. This trade represents a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were 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 of the company’s stock, valued at approximately $1,194,282. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock worth $6,252,759 in the last ninety days. 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.