Aviso Wealth Management Lowers Holdings in NetApp, Inc. (NASDAQ:NTAP)

Aviso Wealth Management lessened its holdings in NetApp, Inc. (NASDAQ:NTAP) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,858 shares of the data storage provider’s stock after selling 653 shares during the period. Aviso Wealth Management’s holdings in NetApp were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp in the fourth quarter valued at $26,000. Assetmark Inc. grew its holdings in shares of NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in NetApp during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new stake in NetApp during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of NetApp in the fourth quarter worth $39,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Down 0.8 %

Shares of NetApp stock opened at $94.39 on Wednesday. NetApp, Inc. has a one year low of $89.88 and a one year high of $135.45. The company has a market cap of $19.20 billion, a P/E ratio of 17.35, a PEG ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a fifty day moving average of $111.60 and a two-hundred day moving average of $117.77.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.20%. NetApp’s payout ratio is currently 38.52%.

Analysts Set New Price Targets

NTAP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on NetApp from $160.00 to $153.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. TD Cowen reduced their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Barclays lowered their target price on shares of NetApp from $132.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com downgraded NetApp from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $129.07.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 12,005 shares in the company, valued at approximately $1,402,063.95. The trade was a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of the stock in a transaction dated 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 completion of the transaction, the president now 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. In the last 90 days, insiders have sold 52,931 shares of company stock valued at $6,252,759. 0.47% of the stock is owned by corporate insiders.

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.