MassMutual Private Wealth & Trust FSB Acquires 107 Shares of NetApp, Inc. $NTAP

MassMutual Private Wealth & Trust FSB lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,083 shares of the data storage provider’s stock after acquiring an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in NetApp were worth $115,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Manchester Capital Management LLC lifted its stake in NetApp by 375.0% in the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. 1248 Management LLC bought a new position in NetApp during the first quarter worth about $25,000. Olde Wealth Management LLC bought a new position in NetApp during the first quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in NetApp by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock valued at $31,000 after buying an additional 124 shares during the period. Finally, Park Square Financial Group LLC bought a new position in NetApp in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,750 shares of company stock worth $3,255,778 over the last quarter. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NTAP shares. Bank of America lifted their price target on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Northland Securities lifted their target price on shares of NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Wells Fargo & Company cut their target price on shares of NetApp from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. UBS Group lifted their target price on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Morgan Stanley set a $117.00 price target on shares of NetApp in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, NetApp currently has an average rating of “Hold” and a consensus price target of $124.07.

NetApp Stock Down 0.9%

NTAP stock opened at $125.16 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The company’s 50 day moving average is $111.36 and its 200 day moving average is $100.72. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.46. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

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.