Counterpoint Mutual Funds LLC Purchases 976 Shares of NetApp, Inc. (NASDAQ:NTAP)

Counterpoint Mutual Funds LLC boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 52.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,830 shares of the data storage provider’s stock after purchasing an additional 976 shares during the period. Counterpoint Mutual Funds LLC’s holdings in NetApp were worth $329,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its stake in shares of NetApp by 4.8% in the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider’s stock worth $1,485,000 after acquiring an additional 581 shares during the last quarter. Versor Investments LP bought a new position in shares of NetApp in the fourth quarter worth about $395,000. Intech Investment Management LLC raised its stake in shares of NetApp by 8.9% in the third quarter. Intech Investment Management LLC now owns 302,010 shares of the data storage provider’s stock worth $37,301,000 after acquiring an additional 24,651 shares during the last quarter. AMJ Financial Wealth Management raised its stake in shares of NetApp by 120.7% in the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider’s stock worth $7,998,000 after acquiring an additional 37,684 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of NetApp by 20.9% in the third quarter. Daiwa Securities Group Inc. now owns 42,302 shares of the data storage provider’s stock worth $5,225,000 after acquiring an additional 7,318 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Stock Up 1.4 %

Shares of NASDAQ NTAP opened at $93.28 on Tuesday. The stock has a market cap of $18.97 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.45 and a beta of 1.24. The firm has a 50 day moving average price of $114.43 and a 200 day moving average price of $118.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, April 4th. NetApp’s payout ratio is currently 38.52%.

Wall Street Analyst Weigh In

NTAP has been the subject of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $110.00 target price (down from $120.00) on shares of NetApp in a research note on Friday, February 28th. Susquehanna downgraded shares of NetApp from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Barclays lowered their price target 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. StockNews.com cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $129.07.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of NetApp stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $116.79, for a total value 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. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Cesar Cernuda sold 22,000 shares of NetApp 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 completion of the transaction, the president now directly 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 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 currently owned by corporate 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.