NetApp, Inc. (NASDAQ:NTAP) Position Lessened by Advisory Services Network LLC

Advisory Services Network LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,239 shares of the data storage provider's stock after selling 12,675 shares during the quarter. Advisory Services Network LLC's holdings in NetApp were worth $1,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NTAP. Orion Portfolio Solutions LLC lifted its holdings in NetApp by 232.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider's stock worth $831,000 after buying an additional 4,705 shares in the last quarter. Barclays PLC boosted its holdings in NetApp by 31.4% in the third quarter. Barclays PLC now owns 784,339 shares of the data storage provider's stock valued at $96,873,000 after purchasing an additional 187,638 shares during the last quarter. M&T Bank Corp increased its holdings in NetApp by 1.9% during the 3rd quarter. M&T Bank Corp now owns 12,213 shares of the data storage provider's stock worth $1,508,000 after purchasing an additional 226 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of NetApp by 5.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,080 shares of the data storage provider's stock valued at $380,000 after purchasing an additional 166 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of NetApp by 73.1% during the third quarter. Sanctuary Advisors LLC now owns 7,608 shares of the data storage provider's stock worth $931,000 after buying an additional 3,213 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O'callahan sold 452 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $120.75, for a total value of $54,579.00. Following the completion of the sale, the executive vice president now directly owns 11,553 shares of the company's stock, valued at approximately $1,395,024.75. This represents a 3.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $123.03, for a total value of $1,045,755.00. Following the completion of the transaction, the chief executive officer now owns 271,282 shares in the company, valued at $33,375,824.46. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,176 shares of company stock valued at $5,445,901 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of research reports. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Loop Capital dropped their price target on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company lowered their target price 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. Barclays lowered their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $125.07.

NetApp Price Performance

Shares of NASDAQ NTAP traded up $1.28 during mid-day trading on Thursday, reaching $82.63. The company had a trading volume of 515,660 shares, compared to its average volume of 1,918,178. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 1-year low of $71.84 and a 1-year high of $135.45. The stock has a market cap of $16.81 billion, a PE ratio of 15.18, a P/E/G ratio of 2.45 and a beta of 1.31. The company has a 50-day moving average price of $97.79 and a two-hundred day moving average price of $113.41.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, April 4th. NetApp's payout ratio is 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.