Barclays PLC Decreases Stock Position in NetApp, Inc. (NASDAQ:NTAP)

Barclays PLC reduced its position in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 736,657 shares of the data storage provider's stock after selling 47,682 shares during the period. Barclays PLC owned about 0.36% of NetApp worth $85,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its stake in shares of NetApp by 232.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,731 shares of the data storage provider's stock worth $831,000 after acquiring an additional 4,705 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in NetApp by 73.1% during the third quarter. Sanctuary Advisors LLC now owns 7,608 shares of the data storage provider's stock valued at $931,000 after purchasing an additional 3,213 shares in the last quarter. World Investment Advisors LLC grew its position in shares of NetApp by 6.1% in the third quarter. World Investment Advisors LLC now owns 7,998 shares of the data storage provider's stock valued at $988,000 after purchasing an additional 459 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of NetApp during the third quarter worth about $160,000. Finally, Tidal Investments LLC raised its position in shares of NetApp by 343.1% during the 3rd quarter. Tidal Investments LLC now owns 227,933 shares of the data storage provider's stock worth $28,152,000 after purchasing an additional 176,495 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Susquehanna lowered NetApp from a "positive" rating to a "neutral" rating and lowered their price target for the stock from $155.00 to $130.00 in a research note on Monday, February 10th. Loop Capital reduced their price target on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Citigroup decreased their target price on shares of NetApp from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. Finally, Bank of America upgraded shares of NetApp from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $121.00 to $128.00 in a report 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $125.07.

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction that occurred on 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 owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $123.03, for a total value of $1,045,755.00. Following the transaction, the chief executive officer now directly owns 271,282 shares in the company, valued at approximately $33,375,824.46. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,176 shares of company stock valued at $5,445,901 over the last three months. 0.47% of the stock is owned by corporate insiders.

NetApp Stock Up 1.5 %

Shares of NTAP stock traded up $1.26 during trading hours on Friday, reaching $82.61. 1,602,025 shares of the stock were exchanged, compared to its average volume of 1,929,117. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The business's fifty day moving average is $96.24 and its two-hundred day moving average is $112.86. The firm has a market capitalization of $16.80 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio (DPR) 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.