Meridian Wealth Management LLC Buys 275 Shares of NetApp, Inc. (NASDAQ:NTAP)

Meridian Wealth Management LLC increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 10.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,951 shares of the data storage provider’s stock after purchasing an additional 275 shares during the quarter. Meridian Wealth Management LLC’s holdings in NetApp were worth $343,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NetApp during the 4th quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new position in shares of NetApp during the 4th quarter valued at approximately $35,000. True Wealth Design LLC increased its position in shares of NetApp by 2,833.3% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 340 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of NetApp during the 3rd quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of NetApp during the 3rd quarter valued at approximately $51,000. Institutional investors own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wedbush restated a “neutral” rating and set a $110.00 price objective (down previously from $120.00) on shares of NetApp in a report on Friday, February 28th. Citigroup dropped their price objective on NetApp from $135.00 to $110.00 and set a “neutral” rating for the company in a report on Monday. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and a consensus target price of $129.07.

NetApp Price Performance

Shares of NTAP stock opened at $94.87 on Thursday. NetApp, Inc. has a twelve month low of $92.59 and a twelve month high of $135.45. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.45 and a beta of 1.24. The stock has a fifty day simple moving average of $118.42 and a two-hundred day simple moving average of $121.10. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s dividend payout ratio is 38.52%.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $116.79, for a total value of $52,672.29. Following the completion of the transaction, the executive vice president now directly owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,903 shares of company stock worth $7,260,341. 0.47% of the stock is currently 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.