Moran Wealth Management LLC Has $24.03 Million Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

Moran Wealth Management LLC trimmed its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,989 shares of the data storage provider’s stock after selling 2,188 shares during the quarter. Moran Wealth Management LLC owned 0.10% of NetApp worth $24,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of NetApp during the fourth quarter worth $26,000. Assetmark Inc. lifted its stake in shares of NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares during the period. Synergy Investment Management LLC bought a new position in NetApp during the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in NetApp during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of NetApp in the 4th quarter valued at $39,000. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a report on Wednesday, February 19th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Citigroup decreased their price objective on shares of NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price target on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Wedbush reissued a “neutral” rating and issued a $110.00 price objective (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $129.07.

NetApp Price Performance

NTAP stock opened at $93.77 on Monday. 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, Inc. has a 1 year low of $91.16 and a 1 year high of $135.45. The company has a market cap of $19.07 billion, a P/E ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.24. The firm has a 50-day moving average of $117.43 and a 200 day moving average of $120.47.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid 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 2.22%. NetApp’s dividend payout ratio is currently 38.52%.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $124.29, for a total value of $1,056,465.00. Following the transaction, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Cesar Cernuda sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,903 shares of company stock worth $7,260,341 in the last three months. Insiders own 0.47% of the company’s stock.

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.