Commonwealth Equity Services LLC Has $2.01 Million Stake in NetApp, Inc. (NASDAQ:NTAP)

Commonwealth Equity Services LLC lessened its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,283 shares of the data storage provider's stock after selling 4,550 shares during the period. Commonwealth Equity Services LLC's holdings in NetApp were worth $2,006,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NetApp during the 4th quarter valued at approximately $26,000. Assetmark Inc. grew its position in 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 purchasing an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of NetApp during the 4th quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in NetApp during the fourth quarter worth about $35,000. Finally, OFI Invest Asset Management bought a new position in NetApp during the fourth quarter valued at about $39,000. Institutional investors own 92.17% of the company's stock.

NetApp Trading Down 1.9 %

NTAP traded down $1.72 during trading on Monday, reaching $86.68. 200,150 shares of the company's stock were exchanged, compared to its average volume of 1,842,690. NetApp, Inc. has a fifty-two week low of $86.41 and a fifty-two week high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market capitalization of $17.63 billion, a PE ratio of 15.93, a P/E/G ratio of 2.45 and a beta of 1.24. The company's fifty day moving average price is $109.82 and its 200-day moving average price is $117.26.

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NetApp Dividend Announcement

The business also recently announced 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 2.40%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio (DPR) is currently 38.52%.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O'callahan sold 451 shares of NetApp stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $116.79, for a total transaction of $52,672.29. Following the transaction, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business's stock in a transaction that occurred on 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 owns 271,282 shares of the company's stock, valued at $33,375,824.46. This represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,931 shares of company stock worth $3,722,979. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Susquehanna downgraded NetApp from a "positive" rating to a "neutral" rating and cut their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Wedbush restated a "neutral" rating and set a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on NetApp from $160.00 to $153.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Morgan Stanley boosted their price objective on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Finally, StockNews.com lowered NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, NetApp has an average rating of "Hold" and an average target price of $129.07.

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.