APG Asset Management US Inc. Sells 5,167 Shares of NetApp, Inc. (NASDAQ:NTAP)

APG Asset Management US Inc. decreased its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,446 shares of the data storage provider's stock after selling 5,167 shares during the quarter. APG Asset Management US Inc.'s holdings in NetApp were worth $748,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NTAP. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the fourth quarter valued at $26,000. Assetmark Inc. boosted its stake in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 215 shares during the period. Synergy Investment Management LLC acquired a new position in NetApp during the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in NetApp in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management bought a new position in shares of NetApp during the fourth quarter worth about $39,000. 92.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised NetApp to an "outperform" rating in a report on Wednesday, February 19th. Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $121.00 to $128.00 in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Loop Capital cut their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $127.73.

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Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 19,696 shares of NetApp stock in a transaction dated Friday, March 28th. The stock was 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. The trade was a 62.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George Kurian sold 8,500 shares of the business'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 directly owns 271,282 shares of the company's stock, valued at approximately $33,375,824.46. The trade was a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,176 shares of company stock worth $5,445,901. 0.47% of the stock is currently owned by company insiders.

NetApp Trading Down 1.3 %

NASDAQ NTAP traded down $1.08 on Tuesday, reaching $82.20. The company had a trading volume of 809,334 shares, compared to its average volume of 1,915,188. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The stock's 50 day moving average is $99.46 and its 200-day moving average is $113.85. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.45 and a beta of 1.31.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, April 4th. NetApp's payout ratio is 38.52%.

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.