CANADA LIFE ASSURANCE Co Sells 5,896 Shares of NetApp, Inc. (NASDAQ:NTAP)

CANADA LIFE ASSURANCE Co trimmed its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,010 shares of the data storage provider's stock after selling 5,896 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.14% of NetApp worth $32,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NTAP. Barclays PLC increased 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 worth $96,873,000 after buying an additional 187,638 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of NetApp by 73.1% in the 3rd 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 during the last quarter. World Investment Advisors LLC boosted its holdings in NetApp by 6.1% in the third quarter. World Investment Advisors LLC now owns 7,998 shares of the data storage provider's stock worth $988,000 after purchasing an additional 459 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of NetApp in the third quarter worth about $160,000. Finally, Tidal Investments LLC boosted its position in NetApp by 343.1% during the third 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 period. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Activity at NetApp

In other NetApp news, CFO Michael J. Berry sold 12,500 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 452 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $120.75, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 41,676 shares of company stock valued at $4,400,146 in the last ninety days. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

NTAP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on shares of NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup cut their price objective on NetApp from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wedbush reiterated a "neutral" rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Finally, Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $125.07.

NetApp Price Performance

Shares of NetApp stock traded up $2.41 during midday trading on Wednesday, hitting $84.86. 1,702,510 shares of the company were exchanged, compared to its average volume of 1,926,359. The firm has a 50 day simple moving average of $94.81 and a 200-day simple moving average of $112.22. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The firm has a market cap of $17.26 billion, a P/E ratio of 15.60, a PEG 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, April 4th. NetApp's dividend payout ratio (DPR) is currently 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.