EverSource Wealth Advisors LLC Acquires 255 Shares of NetApp, Inc. (NASDAQ:NTAP)

EverSource Wealth Advisors LLC raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 18.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,642 shares of the data storage provider’s stock after buying an additional 255 shares during the period. EverSource Wealth Advisors LLC’s holdings in NetApp were worth $191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its stake in shares of NetApp by 75.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,697 shares of the data storage provider’s stock valued at $661,000 after purchasing an additional 2,442 shares during the period. Moors & Cabot Inc. boosted its stake in shares of NetApp by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock valued at $337,000 after purchasing an additional 100 shares during the period. River Road Asset Management LLC purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $4,562,000. Johnson Investment Counsel Inc. boosted its stake in shares of NetApp by 19.6% during the fourth quarter. Johnson Investment Counsel Inc. now owns 5,118 shares of the data storage provider’s stock valued at $594,000 after purchasing an additional 840 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of NetApp by 77.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 75,047 shares of the data storage provider’s stock valued at $8,711,000 after purchasing an additional 32,745 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 528 shares of the firm’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 transaction, the executive vice president now directly owns 12,900 shares in the company, valued at $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the transaction, the chief executive officer now owns 271,282 shares of the company’s stock, valued at $33,375,824.46. The trade was a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is currently owned by company insiders.

NetApp Stock Performance

Shares of NetApp stock opened at $91.98 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $18.71 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.45 and a beta of 1.24. The business has a fifty day simple moving average of $114.93 and a two-hundred day simple moving average of $119.02. NetApp, Inc. has a 12 month low of $89.88 and a 12 month high of $135.45.

NetApp Announces Dividend

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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is currently 38.52%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NTAP shares. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Wedbush reissued a “neutral” rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Citigroup dropped their price target on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company dropped their price target on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $129.07.

About NetApp

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.