NetApp, Inc. (NASDAQ:NTAP) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. raised its holdings in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 204.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,240 shares of the data storage provider's stock after purchasing an additional 132,370 shares during the quarter. American Century Companies Inc. owned 0.10% of NetApp worth $22,896,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NetApp in the 4th quarter valued at about $26,000. Assetmark Inc. lifted its holdings in shares of NetApp by 826.9% in the 4th quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock worth $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of NetApp during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of NetApp during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management acquired a new stake in NetApp in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.17% of the company's stock.

NetApp Stock Down 9.2 %

NetApp stock traded down $8.29 during mid-day trading on Thursday, hitting $82.20. The company had a trading volume of 439,864 shares, compared to its average volume of 1,855,855. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 2.45 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 1 year low of $81.98 and a 1 year high of $135.45. The business has a fifty day moving average of $107.74 and a 200 day moving average of $116.68.

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NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.53%. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the transaction, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This trade represents a 62.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O'callahan sold 451 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the sale, the executive vice president now owns 12,005 shares of the company's stock, valued at approximately $1,402,063.95. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,627 shares of company stock worth $5,498,573 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research reports. Loop Capital decreased their price target on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Wedbush reissued a "neutral" rating and set a $110.00 target price (down previously from $120.00) on shares of NetApp in a research note on Friday, February 28th. Citigroup dropped their target price on NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $121.00 to $128.00 in a research note on Wednesday, February 19th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, NetApp has an average rating of "Hold" and a consensus price target of $129.07.

NetApp 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.