NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Aviso Wealth Management

Aviso Wealth Management trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.8% in the fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NTAP. PNC Financial Services Group Inc. boosted its stake in shares of NetApp by 10.0% during the third quarter. PNC Financial Services Group Inc. now owns 22,941 shares of the data storage provider’s stock valued at $2,833,000 after acquiring an additional 2,088 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of NetApp by 13.1% in the third quarter. Raymond James Trust N.A. now owns 4,206 shares of the data storage provider’s stock valued at $519,000 after purchasing an additional 487 shares during the period. Meridian Wealth Management LLC acquired a new position in NetApp in the third quarter valued at $331,000. Cerity Partners LLC lifted its position in NetApp by 20.9% during the third quarter. Cerity Partners LLC now owns 49,378 shares of the data storage provider’s stock worth $6,099,000 after buying an additional 8,520 shares during the period. Finally, Larson Financial Group LLC boosted its stake in NetApp by 10,431.4% in the 3rd quarter. Larson Financial Group LLC now owns 3,686 shares of the data storage provider’s stock worth $455,000 after buying an additional 3,651 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NetApp

In other news, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the transaction, the chief financial officer now owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. This trade represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value 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 trade represents a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock valued at $6,252,759 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. StockNews.com downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. TD Cowen lowered 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. Wedbush reaffirmed a “neutral” rating and issued a $110.00 target price (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Finally, Loop Capital reduced their target price on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.07.

NetApp Price Performance

NTAP opened at $94.39 on Wednesday. NetApp, Inc. has a twelve month low of $89.88 and a twelve month high of $135.45. The company has a fifty day simple moving average of $111.60 and a 200 day simple moving average of $117.77. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.45 and a beta of 1.24.

NetApp Announces Dividend

The business also recently declared 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, April 4th. NetApp’s payout ratio is currently 38.52%.

NetApp Company 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.