Lbp Am Sa Purchases 4,780 Shares of NetApp, Inc. (NASDAQ:NTAP)

Lbp Am Sa increased its position in NetApp, Inc. (NASDAQ:NTAP) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 126,846 shares of the data storage provider’s stock after buying an additional 4,780 shares during the quarter. Lbp Am Sa’s holdings in NetApp were worth $14,724,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of NTAP. Resonant Capital Advisors LLC grew its position in shares of NetApp by 1.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider’s stock worth $516,000 after purchasing an additional 80 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider’s stock worth $438,000 after acquiring an additional 92 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 worth $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider’s stock worth $337,000 after acquiring an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position 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. 92.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 528 shares of NetApp stock in a transaction on 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 transaction, the executive vice president now owns 12,900 shares of the company’s stock, valued at $1,194,282. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction 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 transaction, the president now directly owns 27,099 shares of the company’s stock, valued at $3,116,114.01. This represents a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,431 shares of company stock valued at $7,309,224 over the last quarter. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NTAP. Morgan Stanley increased their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target 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. Wells Fargo & Company reduced their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus increased their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods raised shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, NetApp currently has an average rating of “Hold” and an average target price of $129.07.

NetApp Price Performance

NTAP stock opened at $90.06 on Friday. The company has a fifty day moving average price of $115.43 and a 200-day moving average price of $119.48. The company has a market capitalization of $18.32 billion, a P/E ratio of 16.56, a PEG ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is currently 38.52%.

NetApp Company 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.