61,644 Shares in NetApp, Inc. (NASDAQ:NTAP) Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC acquired a new position in shares of NetApp, Inc. (NASDAQ:NTAP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 61,644 shares of the data storage provider’s stock, valued at approximately $7,156,000.

Several other large investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of NetApp during the fourth quarter valued at $26,000. Assetmark Inc. boosted its position in NetApp by 826.9% during the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC purchased a new position in NetApp during the 4th quarter valued at about $32,000. Itau Unibanco Holding S.A. increased its holdings in shares of NetApp by 929.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 251 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter valued at $35,000. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Up 0.7%

Shares of NTAP opened at $100.53 on Monday. The company has a 50-day simple moving average of $88.80 and a 200-day simple moving average of $108.34. The firm has a market capitalization of $20.45 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.07%. NetApp’s dividend payout ratio (DPR) is 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the sale, the president now owns 11,928 shares in the company, valued at $1,075,309.20. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total transaction of $695,555.00. Following the completion of the transaction, the chief executive officer now owns 249,765 shares of the company’s stock, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,224 shares of company stock valued at $3,531,872 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NTAP shares. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. StockNews.com lowered NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wedbush reiterated a “neutral” rating and set a $110.00 price target (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and dropped their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, TD Cowen decreased their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 28th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $124.07.

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.