Mackenzie Financial Corp Acquires 225 Shares of NetApp, Inc. (NASDAQ:NTAP)

Mackenzie Financial Corp lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,377 shares of the data storage provider’s stock after purchasing an additional 225 shares during the period. Mackenzie Financial Corp’s holdings in NetApp were worth $4,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hennessy Advisors Inc. boosted its holdings in NetApp by 0.3% in the fourth quarter. Hennessy Advisors Inc. now owns 41,209 shares of the data storage provider’s stock worth $3,633,000 after acquiring an additional 134 shares in the last quarter. Huntington National Bank boosted its holdings in NetApp by 40.4% in the third quarter. Huntington National Bank now owns 490 shares of the data storage provider’s stock worth $37,000 after acquiring an additional 141 shares in the last quarter. Blue Trust Inc. boosted its holdings in NetApp by 14.4% in the fourth quarter. Blue Trust Inc. now owns 1,187 shares of the data storage provider’s stock worth $105,000 after acquiring an additional 149 shares in the last quarter. UMB Bank n.a. boosted its holdings in NetApp by 82.9% in the fourth quarter. UMB Bank n.a. now owns 331 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of NetApp by 2.6% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 6,279 shares of the data storage provider’s stock worth $554,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 871 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the transaction, the executive vice president now owns 9,601 shares in the company, valued at approximately $989,095.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Michael J. Berry sold 7,500 shares of NetApp stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.75, for a total transaction of $770,625.00. Following the sale, the chief financial officer now owns 152,409 shares of the company’s stock, valued at approximately $15,660,024.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at $989,095.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,371 shares of company stock worth $4,139,505. Company insiders own 0.37% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $97.95 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.11 and a current ratio of 1.15. The firm has a market cap of $20.21 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.16 and a beta of 1.28. The firm’s fifty day moving average is $98.99 and its 200 day moving average is $88.61. NetApp, Inc. has a 52 week low of $60.92 and a 52 week high of $112.48.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.69 by $0.25. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.59 billion. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 earnings per share. Research analysts predict that NetApp, Inc. will post 5.16 earnings per share for the current year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.04%. NetApp’s dividend payout ratio is currently 45.45%.

Wall Street Analyst Weigh In

Several analysts have recently commented on NTAP shares. Evercore ISI increased their price objective on NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. Wedbush increased their price objective on NetApp from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price target on NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. UBS Group increased their price target on NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Raymond James reaffirmed a “market perform” rating on shares of NetApp in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.60.

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.