Prevail Innovative Wealth Advisors LLC Acquires Shares of 21,551 NetApp, Inc. (NASDAQ:NTAP)

Prevail Innovative Wealth Advisors LLC purchased a new position in NetApp, Inc. (NASDAQ:NTAP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,551 shares of the data storage provider’s stock, valued at approximately $2,502,000.

A number of other large investors have also recently bought and sold shares of NTAP. Brandywine Global Investment Management LLC bought a new stake in shares of NetApp in the 4th quarter worth approximately $5,151,000. Schroder Investment Management Group grew its position in shares of NetApp by 28.9% during the fourth quarter. Schroder Investment Management Group now owns 940,475 shares of the data storage provider’s stock worth $109,556,000 after acquiring an additional 210,746 shares during the last quarter. Allianz SE acquired a new stake in shares of NetApp in the 4th quarter worth about $1,877,000. Beutel Goodman & Co Ltd. lifted its position in NetApp by 0.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,887,795 shares of the data storage provider’s stock valued at $335,215,000 after purchasing an additional 12,919 shares during the last quarter. Finally, Allstate Corp acquired a new position in NetApp during the 4th quarter valued at about $692,000. Institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 3.0 %

Shares of NASDAQ:NTAP opened at $88.40 on Friday. NetApp, Inc. has a 52-week low of $88.14 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. The company has a market cap of $17.98 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.45 and a beta of 1.24. The stock’s 50-day moving average is $109.82 and its 200-day moving average is $117.25.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th will be paid a $0.52 dividend. 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 payout ratio is 38.52%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTAP. Keefe, Bruyette & Woods raised NetApp to an “outperform” rating in a report on Wednesday, February 19th. Morgan Stanley increased their price target on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped 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. Finally, Citigroup lowered their price target on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, NetApp has an average rating of “Hold” and an average price target of $129.07.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 528 shares of NetApp stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now directly owns 12,900 shares in the company, valued at approximately $1,194,282. The trade was a 3.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the sale, the chief executive officer now directly owns 266,765 shares in the company, valued at approximately $31,755,705.60. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,931 shares of company stock valued at $6,252,759. 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.