NetApp, Inc. (NASDAQ:NTAP) Stock Position Raised by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lifted its position in NetApp, Inc. (NASDAQ:NTAP) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,887,795 shares of the data storage provider’s stock after buying an additional 12,919 shares during the quarter. NetApp comprises 1.8% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 24th largest holding. Beutel Goodman & Co Ltd.’s holdings in NetApp were worth $335,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp in the fourth quarter worth approximately $26,000. Assetmark Inc. lifted its stake in shares of NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new stake in NetApp in the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in NetApp during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management acquired a new stake in shares of NetApp in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Stock Down 3.0 %

Shares of NTAP stock opened at $88.40 on Friday. The stock has a market cap of $17.98 billion, a P/E ratio of 16.25, 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 stock has a fifty day moving average price of $109.82 and a 200 day moving average price of $117.23. NetApp, Inc. has a one year low of $88.14 and a one year high of $135.45.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.35%. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

Analyst Ratings Changes

NTAP has been the topic of a number of analyst reports. Wedbush reissued 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. Morgan Stanley increased their price target on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. TD Cowen reduced their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research note on Wednesday, February 19th. Finally, Barclays cut 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 report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus target price of $129.07.

Insider Activity at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 528 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock valued at $6,252,759 over the last quarter. 0.47% of the stock is owned by company 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.