NetApp, Inc. (NASDAQ:NTAP) Stock Holdings Lessened by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 30.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,266 shares of the data storage provider's stock after selling 86,192 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of NetApp worth $22,550,000 at the end of the most recent reporting period.

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

NetApp Stock Performance

NetApp stock traded up $3.29 during mid-day trading on Thursday, reaching $88.17. The company's stock had a trading volume of 1,812,990 shares, compared to its average volume of 1,926,703. 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 twelve month low of $71.84 and a twelve month high of $135.45. The business has a 50 day moving average price of $94.13 and a 200-day moving average price of $112.03. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.45 and a beta of 1.31.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Friday, April 4th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, April 4th. 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 stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the transaction, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents 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 stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the transaction, the chief executive officer now directly owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,176 shares of company stock worth $5,095,701. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTAP. StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. TD Cowen dropped their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced 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, April 17th. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and increased their target price for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $125.07.

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.