Mackenzie Financial Corp Has $4.97 Million Holdings in NetApp, Inc. (NASDAQ:NTAP)

Mackenzie Financial Corp grew its holdings in NetApp, Inc. (NASDAQ:NTAP) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NTAP. Cornercap Investment Counsel Inc. grew its stake in shares of NetApp by 1.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 31,637 shares of the data storage provider’s stock valued at $2,789,000 after buying an additional 348 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in NetApp by 6.8% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,309 shares of the data storage provider’s stock worth $292,000 after purchasing an additional 211 shares during the period. Lecap Asset Management Ltd. bought a new stake in NetApp during the fourth quarter worth approximately $586,000. Mn Services Vermogensbeheer B.V. boosted its position in NetApp by 0.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 102,200 shares of the data storage provider’s stock worth $9,010,000 after purchasing an additional 300 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in NetApp during the fourth quarter worth approximately $1,111,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NTAP shares. Barclays upped their target price on NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Citigroup increased their price objective on NetApp from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. increased their price objective on NetApp from $87.00 to $95.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. TD Cowen upped their target price on NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Raymond James restated a “market perform” rating on shares of NetApp in a research note on Tuesday, January 16th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.60.

Insider Activity

In other news, CFO Michael J. Berry sold 7,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the completion of the sale, the chief financial officer now directly owns 152,409 shares in the company, valued at $15,660,024.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Michael J. Berry sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $102.75, for a total value of $770,625.00. Following the transaction, the chief financial officer now owns 152,409 shares in the company, valued at $15,660,024.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael J. Berry sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $102.67, for a total value of $1,540,050.00. Following the completion of the transaction, the chief financial officer now owns 144,909 shares in the company, valued at approximately $14,877,807.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,371 shares of company stock worth $4,139,505. 0.37% of the stock is owned by corporate insiders.

NetApp Stock Performance

NetApp stock opened at $97.95 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. The stock has a fifty day moving average price of $98.99 and a two-hundred day moving average price of $88.61. NetApp, Inc. has a 52-week low of $60.92 and a 52-week high of $112.48. The firm has a market capitalization 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.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.25. NetApp had a return on equity of 109.49% and a net margin of 15.21%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that NetApp, Inc. will post 5.16 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.04%. NetApp’s dividend payout ratio (DPR) is presently 45.45%.

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.