NetApp, Inc. (NASDAQ:NTAP) Shares Bought by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC raised its holdings in NetApp, Inc. (NASDAQ:NTAP) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,438 shares of the data storage provider’s stock after purchasing an additional 1,172 shares during the quarter. Freestone Capital Holdings LLC’s holdings in NetApp were worth $2,024,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Inceptionr LLC acquired a new position in NetApp in the fourth quarter valued at $2,216,000. Raymond James Financial Inc. acquired a new position in NetApp in the fourth quarter valued at $64,683,000. Cullen Frost Bankers Inc. increased its stake in NetApp by 66.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,190 shares of the data storage provider’s stock valued at $254,000 after purchasing an additional 872 shares during the period. Arizona State Retirement System increased its stake in NetApp by 0.8% in the fourth quarter. Arizona State Retirement System now owns 59,456 shares of the data storage provider’s stock valued at $6,902,000 after purchasing an additional 494 shares during the period. Finally, Verdence Capital Advisors LLC increased its stake in NetApp by 10.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 3,338 shares of the data storage provider’s stock valued at $388,000 after purchasing an additional 328 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Stock Down 3.2 %

Shares of NASDAQ NTAP opened at $91.86 on Friday. NetApp, Inc. has a 12-month low of $91.19 and a 12-month high of $135.45. The company has a market capitalization of $18.69 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84. The firm’s 50-day moving average is $117.89 and its two-hundred day moving average is $120.89.

NetApp Dividend Announcement

The firm also recently declared 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 2.26%. The ex-dividend date is Friday, April 4th. NetApp’s dividend payout ratio (DPR) is presently 38.52%.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Barclays dropped their price target on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Northland Securities boosted their price target on shares of NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Loop Capital decreased their price objective on shares of NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Oppenheimer began coverage on shares of NetApp in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, NetApp has a consensus rating of “Hold” and an average target price of $129.07.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 451 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now owns 12,005 shares of the company’s stock, valued at approximately $1,402,063.95. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were 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 in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock valued at $7,260,341 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

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.